'Fast Money' Traders Share Their Thoughts On Beaten Down Stocks
On CNBC's "Fast Money," Guy Adami spoke about Microchip Technology Inc. (NASDAQ:MCHP). He doesn't see a potential catalyst that could move the stock higher. Microchip Technology dropped sharply in May and Adami sees more room on the downside.
Tim Seymour likes Macy's, Inc. (NYSE:M). He said it trades at six times earnings and it pays a high dividend. Seymour thinks its balance sheet can support the dividend.
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Steve Grasso said he also likes Macy's. He added that he has a long position in General Electric Company (NYSE:GE). He thinks General Electric has stabilized as it stopped moving down on headlines that used to take it down.
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