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Web Extra: Burned by Best Buy

A long position in Best Buy looked like a hot trade but it wasn’t. How is Karen Finerman playing the stock now that she’s been burned?

The Chairwoman made the fateful call on June 4th. At the time she said quite simply, "I am long Best Buy. I like it.”



Unfortunately this trade didn’t like her. Since her bullish commentary shares have done little but march lower.

So, what does she think of Best Buy now?

Buying any retailer in June was not a smart thing to do, but I still like this stock, Finerman admits in the Web Extra. Valuations remain attractive. Here everything the Chairwoman has to say about Best Buy. Watch the video below!


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Trader disclosure: On July 12, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC), (BAC) Preferred; Finerman Owns (GOOG); Finerman's Firm And Finerman Own (HPQ); Finerman's Firm Owns (JPM), (JPM) Leap; Finerman Owns (JPM)l Finerman Owns (WFC) Preferred; Finerman's Firm And Finerman Own (BBY); Terranova owns (GOOG), (AMZN), (MON), (APC), (GMCR), (MYL), (MRVL), (BAC), (ADI), (ADBE), (AKAM), (HES), (CVS), (AXP), (EMC), (ABT); Kelly Is Short (GS); Kelly Owns (BP) Puts; Najarian Owns (INTC) Call Spreads

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