The Fast Money traders are at odds over how to trade Google, after the FTC said a high profile attorney will begin running its antitrust investigation as soon as Monday.
“I’m a buyer of a dip," says Jon Najarian. "I’m not worried about this hurting shares. This is a stock to own.”
Najarian thinks the potential of mobile search, Android smartphones, Android tablets as well as other Google initiatives far outweigh any negatives presented by this lawsuit.
Trader Steve Grasso, counters that he'd “rather be a seller than a buyer."
Grasso argues that fears of litigation dragged down Apple and he sees no reason the same won’t happen with Google.
And the litigation does seem to be taking a serious turn.
Beth Wilkinson, a former federal prosecutor best known for convicting Oklahoma City bomber Timothy McVeigh and now a partner with Paul, Weiss, Rifkind, Wharton & Garrison, will start work on this case Monday.
FTC Chairman Jon Leibowitz said his agency went outside its staff because of the importance of the case, which could have implications for not just Google's growth ambitions but also consumers' use of the Internet.
Google has been accused of using its clout in the search market to stomp rivals as it moves into related Web businesses such as travel search. European regulators are also looking into similar claims.
Although the FTC has not yet decided whether to bring a lawsuit, chatter on the Street suggests the hiring of Wilkinson increases the chances of litigation.