Oversold? 4 plays on struggling big name stocks
Of the big name stocks that took a dive Tuesday, Walt Disney (NYSE: DIS) looked the most appealing to some "Fast Money" traders.
Dow component Disney lost more than 2 percent in regular session trading while major U.S. averages shed nearly 3 percent each. The stock has now dropped more than 10 percent in the last month.
"It's too valuable a property to just throw by the wayside," said trader Guy Adami.
He said he thinks Disney could still fall lower than about $99.50, where it closed Tuesday. But he said it still has long-term upside.
Read More Why it might not be time to drop Disney shares
Trader Steve Grasso who owns the stock noted Disney looks oversold at its current levels.
Netflix
Video streaming service Netflix (NASDAQ: NFLX) plunged 8 percent on Tuesday. Despite the drop, it remains one of the best S&P 500 performers this year, up more than 116 percent.
Read More Hulu to become Epix's streaming partner after Netflix opts out
But trader Brian Kelly said he would stay away from the stock at a still elevated valuation.
Baidu
U.S.-listed shares of Chinese Internet company Baidu (NASDAQ: BIDU) lost 2.5 percent on the day. The stock has taken a dive of 37 percent this year.
But trader Tim Seymour contended he would "load the boat" at current prices, around $143.50 per share. He said it remains a strong long-term play on the Chinese consumer.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Brian Kelly
Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasuries.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Steve Grasso
Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long BP, COP, CVX, FCX, OXY, RIG, AMZN His kids own EFA, EFG, EWJ, IJR, SPY.
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