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Web Extra: Burned by Akamai Technologies

Monday, 2 Aug 2010 | 6:06 PM ET

A long position in Akamai looked like a hot trade but it wasn’t. So how is Joe Terranova playing the stock now that he’s been burned?

The Liquidator first made the fateful call on June 28th. “Akamai, they have the pricing power,” he said. “Google, Yahoo! Not so much.”

Then he reiterated his position on July 7th. “Technology is the poster child of good earnings going forward and I think in the second half of this year, the Street will want to be in Akamai.”

Unfortunately since he suggested establishing a position, the Street wanted nothing to do with this stock. Shares are down sharply.

So, how does Terranova suggest playing the stock going forward?

Watch the video and find out now!

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Trader disclosure: On Aug 2, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour owns (AAPL), (F), (GOOG), (POT), (BAC), (C); Grasso owns (ASTM), (ABK), (BAC), (BA), (BGP), (C), (CSCO), (DYN), (JPM), (LPX), (MO), (NDAQ), (PFE), (PRST); Terranova owns (AKAM), (APA), (AXP), (BAX), (BBY), (BMO), (C), (COP), (CREE), (CSX), (CVS), (EMC), (FCX), (GOOG), (GS), (JNPR), (JOYG), (KOL), (MMM), (MOS), (MSFT), (PCP), (PEP), (PFE), (POT), (RIMM), (TER), (SKX), (SU), (UAUA), (WYNN), (XBI); Edwards own (RIMM)

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For Joe Terranova
Terranova works for (VRTS)
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners owns more than 1% of (CASS)
Virtus Investment Partners owns more than 1% of (LDR)
Virtus Investment Partners owns more than 1% of (LPHI)
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For Itay Michaeli
Citigroup Global Markets Inc. or its affiliates has received compensation for investment banking services provided within the past 12 months from ArvinMeritor, Inc., BorgWarner Inc, Lear Corporation, Magna International Inc.

Citigroup Global Markets Inc. or its affiliates expects to receive or intends to seek, within the next three months, compensation for investment banking services from ArvinMeritor, Inc..

Citigroup Global Markets Inc. or an affiliate received compensation for products and services other than investment banking services from ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc in the past 12 months.

Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as investment banking client(s): ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc.

Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, securities related: ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc.

Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, nonsecurities-related: ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc.


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