Growth stocks are catching some bids Tuesday amid falling Treasury yields. Market Rebellion co-founder Jon Najarian highlighted a few of the growth names investors seem to be focused on.
What To Know: Najarian bought Roblox Corp (NYSE:RBLX) call options after seeing strong interest in the call-side contracts.
"Obviously the stock has been slaughtered. It's down so dramatically that people ... are saying, I'm going to take a shot at this one," Najarian said Tuesday on CNBC's "Fast Money Halftime Report."
Roblox shares are down more than 60% since the start of the year, according to data from Benzinga Pro.
"Some of these stocks have been battered so severely that it's hard to imagine a much worse scenario," Najarian said.
Amazon.com Inc (NASDAQ:AMZN) is another name that has given back a lot of its gains. Amazon shares are down more than 32% year-to-date and traders are looking for a short-term pop to the upside, according to Najarian.
"We have some strong unusual activity. How strong? 15,000 calls," he said.
Those calls are at the $111 strike and are set to expire this week, he added. Najarian told CNBC he jumped into those contracts with the stock trading around $109 per share.
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RBLX, AMZN Price Action: At press time, Roblox was up 12.9% at $39.59 and Amazon was up 3.02% at $112.82.
Photos: courtesy of Roblox and Amazon.
