'Fast Money' Recap: What's On? How About Netflix Stock?
NEW YORK (TheStreet) -- The S&P 500 made another record close, ending Thursday's session at 1,920, up 0.54%.
On CNBC's "Fast Money" TV show, the trading panel took a look at shares of Netflix (NFLX).
Guy Adami, managing director of stockmonster.com, said the stock looks likely to push up to the $458 level, where it will either breakout or breakdown.
Tim Seymour, managing partner of Triogem Asset Management, said the stock has simply bounced higher from oversold levels. With a relative-strength index (RSI) reading of 80, he reasoned that the stock is now overbought.Karen Finerman, president of Metropolitan Capital Advisors, said the stock's valuation is way too high for her to consider buying the stock. She added the valuation make it dangerous to own a stock like this. Jon Najarian, co-founder of optionmonster.com and trademonster.com, acknowledged Netflix has a high valuation but said it could still continue higher with more "reality shock" selloffs in the future. Victor Anthony, managing director at Topeka Capital, has a buy rating on shares of Twitter (TWTR) with a $60 price target by the end of 2014. He admitted the stock got ahead of itself before selling off in what became a "de-risk" environment. He said Twitter's monetization potential is very high with its platform. Seymour said he is long June $32 call options in Twitter. He said the stock seems to "temporarily" have its momentum back. Najarian is long Twitter as well, but he is not trading the stock based on valuation. He is not that optimistic on Twitter's ability to properly monetize its platform. Adami pointed out how good Facebook (FB) earnings were last quarter. With its "very strong" results in nearly every metric, he reasoned the stock should be able to climb to $75. Finerman is a buyer of Softbank and said it is a better investment than Yahoo! (YHOO) in terms of a play on Alibaba since both own stakes in the Chinese e-commerce company. Najarian called Walter Energy (WLT) "undervalued" at current levels.
Seymour said eBay (EBAY) is both oversold and undervalued. He is a buyer. Najarian questioned whether investors have already "baked" in all of the upcoming announcements into Apple's (AAPL) stock price. He worries about a selloff in the stock if the company fails to announce a "blow away" product. Seymour argued the Apple's valuation alone is enough to keep the momentum going to the upside. Finerman suggested the market is unlikely to price in too much of a premium into shares of Apple, based on a product they have never seen or heard of.
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