A long position in Fusion IO looked like a hot trade but so far, all it’s done is burn Pete Najarian. The Pit Boss made the fateful call on April 26th as he extolled the virtues of the company from almost every angle imaginable.
The company may be going in the right direction but shares went in the wrong direction. Since he went long shares are down over 20%.
In other news, in the three days since their IPO, Facebook stock has dropped from $38 to $31.