NEW YORK (TheStreet) -- After selling off in early Wednesday trading, U.S. equities erased most of the losses by the close, finishing slightly lower on the day.
On CNBC's "Fast Money" TV show, the traders were discussing Twitter's (TWTR) first earnings report, after which shares were over 15% lower in after-hours trading.
Steve Grasso, director of institutional sales at Stuart Frankel, is remaining long but most of investors' concerns are stemming from the company's slower-than-expected user growth. He added the stock rallied too high based on Facebook's (FB) solid earnings report last week.
Tim Seymour, managing partner of Triogem Asset Management, said expectations for the company were too high. He added that at 40 times sales, the company is too overvalued at current levels.
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Guy Adami, managing director of stockmonster.com, said that if the $58 level doesn't hold, then Twitter is likely to trade down to the mid-$40s. He reminded investors there are two lock-up expirations approaching, in February and April.
Karen Finerman, president of Metropolitan Capital Advisors, said a lot of high-valuation stocks seemed to do badly on Wednesday. She's not a buyer of Twitter at current levels.
Seymour called Pandora (P) a "pure play" on the mobile space. The company just posted a 51% year-over-year revenue increase, which is the type of growth investors have to pay up for.
Adami said Pandora is setting up nicely on the long side after Wednesday's earnings-induced selloff. He is not yet a buyer, however.