'Fast Money' Traders Share Their Thoughts On Retail, Cruise And Casino Stocks
On CNBC's "Fast Money," Tim Seymour said Macy's Inc (NYSE: M) was priced as if it's going out of business, but he doesn't think that's going to happen. He added there are very real assets there.
Karen Finerman said Macy's bond that comes due in 2023 has hardly bounced at all and it's trading at high teens yield. This is telling her there are real concerns about Macy's as an ongoing business. She finds it too risky and she would rather own Target Corporation (NYSE: TGT).
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Steve Grasso said there is a reason to take a chance on the cruise stocks, but the behavior has changed and there were issues even before the COVID-19. He thinks the bailouts are possible for these stocks. He would stay away from Carnival Corp (NYSE: CCL) and he would stick with Royal Caribbean Cruises Ltd (NYSE: RCL) and Norwegian Cruise Line Holdings Ltd (NYSE: NCLH).
Guy Adami said there are glimmers of hope in some casino stocks. He would stay in Wynn Resorts, Limited (NASDAQ: WYNN) until it reaches $75.
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