Sometimes a stock is hot and other times it just burns you. Following are Fast Money trades that didn’t... errr, end so well.
Guy Adami
On April 20th the Negotiator said “ Abbott is a buy here” thinking this health care play that would add life to his portfolio.
Unfortunately, a long position didn’t cure anything that ailed his financial health; Abbott is down 6% since Adami’s bullish call.
"I was wrong," Adami concedes on Friday's Fast Money. "Get out."
Joe Terranova
On April 17th the Liquidator recommended McDonald’s as a tasty trade reasoning that “they are gaining market share in this economic downturn.”
Unfortunately this trade left him with indigestion. Since Terranova said long, shares slipped 6%.
We held his feet to the fire, but Terranova didn't was speechless.
Tim Seymour
On April 17th the Ambassador turned a cold should on a red metal when he said, “short copper with Freeport McMoRan.”
The Ambassador didn’t mine any returns on this play. Shares of FCX are up about 5% over the last 2 weeks.
"That was a three day trade," counters Tim Seymour. "I'm out and I made money. That's the problem with this show!"
Karen Finerman
On April 3rd the Chairwoman suggested betting on a takeover when she said “I still like Celgene. I do think that we will see a lot more M&A”
But the urge to merge didn’t propel these shares higher. Since she said to get long Celgene lost about 5%.
Finerman is sure we didn't understand her trade. "I never said get long Celgene," she exclaimed.
Maybe we should be fast fired!
