"Philips, the Dutch electronics and lighting company that helped to equip the ball, said the lights will consume about the same amount of energy per hour as it takes to operate two conventional home ovens."
That makes the ball very energy efficient. And the technology "allows the ball to do all kinds of wild things," explains Jon Najarian on Fast Money.
But what makes this ball really unique is that for the first time ever it will stay up all year. So, on Halloween it could be orange and black or it could look like a flag on Fourth of July.
"It’s expected to be pretty cool and a nice draw for New York City tourism. And as a result the ball could spark interest in the technology," concludes Najarian
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Trader disclosure: On Dec. 30th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (MSFT), (TM), (WMT): Pete Najarian Owns (AAUK) And Is Short (AAUK) Calls; Pete Najarian Owns (DOW) Call Spread; Pete Najarian Owns (XHB) Call Spread; Pete Najarian Owns (ENER) Call Spread; Tatro Owns (JPM), (WPRT); Quint Tatro Is The Principal Of Tatro Capital; Tatro Capital Owns (INTC), (SDP), (DXO), (WPRT)’ Tatro Capital Is Short (AAPL), (GOOG), (XOM), (CVX)
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