On the eight year anniversary of the bull market following the 2009 stock market bottom, the "Fast Money" traders said Netflix is the stock to buy out of the six best-performing stocks since the financial crisis.
Trader Brian Seaburg said there is no question that traders should buy Netflix. He expects the company to be sold within a year at a huge premium once it has reached its pinnacle of growth. The stock gained 2,476 percent since March 9, 2009.
Trader Guy Adami said he believes Netflix is going to get bought as well. He also mentioned Priceline as a stock he likes, because the online booking company continues to do well and is worthy of its high valuation. Shares of Priceline closed at $1,749.42 on Thursday.
Priceline and Netflix are both stocks that trader Steve Grasso likes, too. He said Priceline shows no momentum of slowing down.
Despite Ulta Beauty's poor guidance, Seaburg also said he likes the cosmetics retailer because of its 16.6 percent growth in same-store sales and plans to invest in e-commerce. He said it is one of the few places in retail worth owning. The stock is up 6,122 percent since March 9, 2009, but shares of Ulta Beauty lost nearly 5 percent in extended trading on Thursday following its earnings report.
Disclosures:
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
"Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore"
STEVE GRASSO'S FIRM IS LONG: CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SPY, TITXF, WDR, WPX, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SNAP, SPY, T, TWTR. GRASSO'S KIDS OWN: EFA, EFG, EWJ, IJR, SPY. NO SHORTS.
Dan Nathan is long SPY May put spread, VIX long March call spread, Dan Nathan is long SPY May put spread, VIX long March call spread, JNJ long APR puts, XLV long APR-June put spread, xli long June put spread.