Comcast’s plans to launch a video-streaming service could spell trouble for Netflix, the “ Fast Money ” pros said Monday.
“I would short the stock rather than buy the stock,” trader Stephen Weiss said, who added that he didn’t get the valuation. “I’d rather be with Comcast or Verizon, much deeper pockets. They could put these guys out of business eventually.”
Philadelphia-based Comcast, which is the parent company of CNBC , plans to call the new service Xfinity Streampix, according to a Wall Street Journal article . It launches Thursday.
Earlier this month, Verizon and Coinstar announced a joint streaming-video venture .
Joe Terranova of Virtus Investment Partners thought there might be opportunity in shorting Netflix stock.
“The shorts, they are now no longer loaded up, which gives them plenty of ammunition if they want to press the downside, which I think they’re going to begin to do here,” he said.
Brian Kelly of Shelter Harbor Capital wasn’t a buyer.Page 1 of 4 | Next Page