A long position in Target looked like a hot trade but all it did was burn Karen Finerman. What does she have to say about the stock now?
The Chairwoman made the fateful call on March 2nd citing strong fundamentals at an attractive price.
”Today we added to our position in Target,” she said at the time. “We have been adding for a while. I'm impressed with Target's long-term plan. I don't know. I think the valuation is attractive here.”
The long term plan may be attractive but the short term performance is anything but attractive. Since she said to get long, shares have tumbled about 5%.
So what does she have to say about this stock now? Find out in this web extra. Watch the video now!
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Trader disclosure: On March 28, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Grasso Owns (AMD); Grasso Owns (ASTM); Grasso Owns (BA); Grasso Owns (BAC); Grasso Owns (C); Grasso Owns (CPX); Grasso Owns (CSCO); Grasso Owns (D); Grasso Owns (JPM); Grasso Owns (LIT); Grasso Owns (LPX); Grasso Owns (MHY); Grasso Owns (NDAQ); Grasso Owns (PFE); Grasso Owns (PRST); Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm Owns (BAC) Leap; Finerman Owns (BAC); Finerman Owns (C); Finerman Owns (GOOG); Finerman's Firm Owns (JPM), (JPM) Leaps; Finerman Owns (JPM); Finerman's Firm Owns (TGT); Finerman's Firm Owns (WMT); Finerman's Firm And Finerman Own (MSFT); Terranova Owns (VRTS); Terranova Owns (C); Terranova Owns (GS); Terranova Owns (JPM); Terranova Owns (UPL); Terranova Owns (MS); Terranova Owns (PBR); Terranova Owns (BAX); Terranova Owns (TEVA); Terranova Owns (IBM); Terranova Owns (XOM); Terranova Owns (JNPR); Terranova Owns (AAPL), (AAPL) Puts; Terranova Owns (AKAM), (AKAM) Calls; Terranova Owns (DIS); Terranova Owns (CVI); Terranova Owns (RSX); Terranova Owns (CNQ); Terranova Owns (BTU); Terranova Owns (CNX) Puts
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