GO
Loading...

Burned by Monster Worldwide

A long position in Monster Worldwide looked like a hot trade, but so far all it’s done is burn trader Simon Baker.

The Fast Money pro made the fateful call on April 3rd. “The catalyst should be the jobs report on Friday,” he said at the time. "Any good numbers and you can see this stock pop. "

Baker mentioned a few other catalysts too.

“I also like it because they’ve thought about strategic acquisitions,” he said. “I think you have a floor in the stock too so Monster Worldwide—Buy.”

Unfortunately, since Baker made the call the stock declined well over 10%.

What now?

“I liked it higher and I like it more now,” says Baker on April 24th.

"The story is still very much in tact,” he explains. “And the company said its hired Merrill Lynch to increase shareholder value and look at strategic options.”







______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our Web site send your e-mail to fastmoney@cnbc.com.


Trader disclosure: On April 24, 2012 , the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long NXPI; Joe Terranova is long JPM; Joe Terranova is long JOY; Joe Terranova is long HPQ; Joe Terranova is long LQD; Steve Grasso is long ABX; Steve Grasso is long CUBA; Steve Grasso is long GERN; Steve Grasso is long HPQ; Steve Grasso is long HSPO; Steve Grasso is long MU; Steve Grasso is long NEM; Steve Grasso is long NYX; Steve Grasso is long P; Steve Grasso is long PRST; Steve Grasso is long VVUS; Steve Grasso is long XRX; Steve Grasso is long ZNGA; Steve Grasso is long FDX; Steve Grasso is long TBT; Steve Grasso is long UAL; Josh Brown is long AAPL; Josh Brown is long EMC; Josh Brown is long NTAP; Josh Brown is long JPM; Josh Brown is long COP; Simon Baker is long AAPL; Simon Baker is long BAC; Simon Baker is long GS; Simon Baker is long JPM; Simon Baker is long MS; Simon Baker is long GLD; Simon Baker is long XLF; Simon Baker is long IBM; Simon Baker is long WMT; Simon Baker is long ADSK; Simon Baker is long DELL; Simon Baker is long IBM

For Whitney Tilson
Whitney Tilson is long NFLX

For Toni Sacconaghi
Bernstein currently makes a market in the following companies AAPL

For Bryan Elliott
Raymond James & Associates makes a market in shares of PNRA
Raymond James & Associates makes a market in shares of BWLD

For Mark Zgutowicz
Piper Jaffray received non-investment banking securities-related compensation from the following companies during the past 12 months: VCI
Piper Jaffray makes a market in the securities of LNKD

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET

Halftime Report