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Burned By Medco

It looked like a hot stock. So how is Guy Adami playing Medco now that he’s been burned?

On March 22nd the Negotiator made the fateful call. At the time he was bullish.

“We had the Medco CEO on the day before,” Adami explained, and “I believe these guys have earnings power. Frankly I still think you can own them here.”

Unfortunately all this health care trade did was make the Negotiator sick. Since he suggested a long position the stock is down over 5%.

What does he have to say about this trade now?

I still think when they report earnings they will knock the cover off the ball, says Guy Adami. I think the stock is still a buy.

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