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%.
“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.”