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Burned By CEDC

A long position in vodka maker CEDC looked like a hot trade but all it did was burn. How is Tim Seymour playing this stock now?

The Ambassador made the fateful call on September 2nd. Don't be confused by the Philadelphia address, its main business involves selling spirits in Central and Eastern Europe “and vodka is big in Eastern Europe,” said Seymour.

Vodka may be big -- but share price of CEDC has gotten anything but big. Since he suggested a long position shares are down about 7%.

So what does he have to say about this stock now?

I still like this company, he says. The stock has not performed well but I think current levels are a good place to get in. Fundamentals are still strong.


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Trader disclosure: On Oct.11, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Seymour owns (AAPL), (GE), (GOOG), (INTC), (MON), (MSFT), (MOS), (POT); Pete Najarian owns (DD); Pete Najarian owns (GE); Pete Najarian owns (POT); Pete Najarian owns (BEXP) calls; Pete Najarian owns (BP) calls; Pete Najarian owns (BME) calls; Pete Najarian owns (ERTS) calls; Pete Najarian owns (GDXJ); Pete Najarian owns (BRCD); Pete Najarian owns (CNI); Grasso owns (ASTM), (BA), (BAC), (C), (CSCO), (JPM), (LPX), (MO), (MOT), (NDAQ), (PFE), (PRST)

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