Guy Adami Made A Bad Call On Caterpillar (CAT)
CNBC Fast Money’s Guy Adami recommended a short position in Caterpillar (NYSE: CAT) back in February. He thought that Caterpillar (CAT) reached its top, but to Guy Adami’s surprise this stock continued to outperform. CAT jumped approximately 12% since that call.
Guy Adami admitted he was wrong to bet against the momentum, but added that he is not a buyer at this level. At these prices he would be taking profits.
Caterpillar (CAT) fell 0.49% today and closed at $62.85. It had a volume of 6.66M traded shares.