Unusual activity in shares of Vistaprint Wednesday made the stock so attractive that options trader Jon Najarian broke his finger while furiously hitting the buy button.
"When I saw it, I was trying to slam those orders in there so quickly that I dislocated it," said Najarian, co-founder of optionMONSTER.com and a "Fast Money" trader.
While Najarian's tale of injuring his finger was told in jest (he really hurt himself while playing softball Tuesday night), he was quite serious about how hot shares of VPRT really are.
"The stock just exploded both because of takeover rumors and because of actual upside call buying," said Najarian, adding that he got on it early, where the stock went from a 52-week low and then made a new one at a $1.50 higher than that. He is long both September and October calls.
Based in Venlo, Netherlands, Vistaprint provides marketing products and services to small businesses.
---
COULD THIS TECH STOCK HIT BOTTOM?
One analyst believes concerns surrounding LCD television supplies are overblown and shares of Corning will outperform the market.
Television sales are weak, said Yair Reiner, an analyst of Oppenheimer. Investors, TV set makers and manufactures all know this and aren't expecting sales to pick up in the next few months, he added. Poor TV sales are affecting Corning and other related companies that are in the LCD business.
"Wall Street is good at discounting. So further negative data points could be shrugged off," said Reiner, adding that this has been the case in past inventory corrections and will likely occur again.
TV panel prices have been declining sharply for the past few months and will likely continue for another three months, Reiner said. He thinks the price will get low enough that it will hit cash cost for the markers and will trade up.
What's the Trade?
Patty Edwards, principal at Storehouse Partners and a "Fast Money" trader, owns Corning. She noted that the stock is currently trading at just over seven times earnings. Right now, she is hedged, but might buy more because she likes this stock for the long-term.
---
SHARES OF POTASH DROPPING ON BID CONCERNS
Since fertilizer giant Potash declined an unsolicited $38.6 billion takeover bid from mining company BHP Billiton last week, both stocks have the attention of investors.
William Doyle, CEO of Potash, said he turned the bid down because he thought the stock is worth more than what was offered. But on Wednesday, shares of POT fell.
In the fertilizer space, CNBC's Melissa Lee noted that all of them took off premium since the first day BHP made its bid. Minnepolis-based Mosaic , for example, is trading at levels before the bid was announced.
This has been a trade about Potash, not the larger agriculture space, said Joe Terranova of Viturs Investment Partners. BHP is going after POT for good reason, he said, and they will close the deal. He doesn't know at what price BHP will acquire POT, but thinks it will be higher than where the Saskatchewan, Canada-based company is trading now.
---
CALL TO THE FLOOR
While content for download is flooding the markets, can Digital River keep that revenue stream flowing through their front doors? CEO Joel Ronning appeared on Wednesday's "Fast Money Halftime Report" to answer that question and more. Watch the videoto see the full interview.
---
CALL THE CLOSE
"Staying hedged," said Patty Edwards, principal at Storehouse Partners.
"I think this is a sideways market," said Joe Terranova of Vitrus Invetment Partners.
Jon Najarian, co-founder of optionMONSTER.com, thinks this market could bounce.
Brian Kelly, founder of Kanundrum Capital, is a seller of the market.
______________________________________________________
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 those e-mails to .
CNBC.com with wires.
