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Fast Money Traders Share Their Thoughts On Fitbit, Freeport-McMoRan And Delta Air Lines


On CNBC's Fast Money, Brian Kelly spoke about Fitbit Inc (NYSE: FIT). Its app was the most downloaded on Apple's app store on Christmas, but Kelly is not impressed. He explained that the value of this company is a function of the size of its network. He doesn't see growth in number of users.

David Seaburg agrees with Kelly. He believes that Fitbit's gross margins are going to decline because of discounts it offers. Seaburg added that the stock is trading at a P/E multiple of 26 and it should be trading at 12 because it is a hardware company.

Tim Seymour thinks that Fitbit feels like GoPro Inc (NASDAQ: GPRO) and Dan Nathan commented that if Apple Inc. (NASDAQ: AAPL) takes on this segment, Fitbit is done.

Seymour and Kelly have also discussed Freeport-McMoRan Inc (NYSE: FCX). They concluded that the real question for the stock is the price of copper in 2016 and 2017. Kelly doesn't see any catalysts for a significant move higher copper and the moment and Seymour is neutral on the stock.

Nathan is a buyer of Delta Air Lines, Inc. (NYSE: DAL). He added that if crude oil stays low, United Continental Holdings Inc (NYSE: UAL) and American Airlines Group Inc (NASDAQ: AAL) might also move higher.


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Posted-In: Brian Kelly CNBC Dan Nathan David Seaburg Tim SeymourTech Media