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Web Extra: Burned By Nokia

A long position in Nokia looked like a hot trade but all it did was burn Tim Seymour. So how is the Ambassador playing this stock now?

Seymour made the fateful call on October 25th on the belief that the company had fallen so much already, there was only one direction for it to go-- higher.

”For Nokia the cat is out of the bag,” he said. “They have failed. (But) they are still the leader, in terms of market share and they don't have a very high bar to clear. I think you can own Nokia here, and I do.”

Unfortunately, even with the bar set low, investors continued to hit the sell button and shares tumbled another 10% since Seymour suggested establishing a position.

So what does he have to say about the stock now? Find out in this web extra. Watch the video now!


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Trader disclosure: On November 29, 2010, 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), (BX), (BAC), (NOK); Finerman owns (AAPL); Finerman and Finerman’s firm owns (BBY); Finerman owns (BAC); Finerman owns (BKS); Finerman and Finerman’s firm owns (BP); Finerman’s firm owns (CMVT); Finerman owns (KFT); Finerman and Finerman’s firm owns (JPM); Finerman’s firm owns (MCD); Finerman’s firm owns (WMT); Finerman and Finerman’s Firm owns (MSFT); Terranova Owns (UPL), (C), (PEP), (VRTS), (GS), (OXY), (OIH), (AXP), (FCX), (AAPL), (POT), (NKE), (MCD), (IBM); Weiss owns (FDX), (UPS), (BWC); Pete Najarian owns (PFE); Pete Najarian owns (BAC); Pete Najarian owns (MS)

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