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'Fast Money' Recap: Stressed by the Tests

Facebook (FB) also fell 7% after the company announced its $2 billion acquisition of Oculus VR. Grasso said investors thought the company's acquisition of Instagram was a bad move a few years ago but it has turned out to be an amazing asset. He said it will take some time to find out but suggested that the potential for Oculus could be huge.

Finerman asked, "Is he a visionary or getting distracted?" referring to Facebook CEO Mark Zuckerberg. For now, she said, he deserves the benefit of the doubt. 

Seymour said investors will likely start buying shares of FB after its sharp decline over the past few weeks. 

Nissan (NSANY) announced it would recall 1.05 million vehicles. Seymour said not to sell the stock on this news. He was also a buyer of General Motors (GM) at current levels based on valuation and an improving auto market. 

Grasso agreed that GM had a low valuation. however, he said the stock has not traded well and looks like it could head lower. Finerman is long GM based on valuation. 

Must Read: 'Fast Money' Recap: A Down Day

Seymour said the iShares MSCI Emerging Markets ETF (EEM) is running into resistance near $40. He advised investors to sell at current levels and wait for a pullback before buying again. 

Nili Gilbert, co-founder and portfolio manager of Matarin Capital, said many investors are lured in by companies with high growth prospects, only to get financially hurt. She said her firm seeks out companies with stable and consistent growth. 

For example, DirecTV (DTV) has grown revenue roughly 10% each year over the last five years. On a sales-per-share basis, the company has growth comparable to Netflix (NFLX). However, DTV has a much, much lower valuation based on earnings, along with high free-cash flow and a favorable buyback, she concluded. 

Seymour said he likes DTV at current levels. 

Regarding wearable technology, Finerman said Apple (AAPL) is likely to have some sort of involvement in the space. There has been no formal announcement of such products from the company. 

To play the wearable technology space, Seymour prefers Nike (NKE), which has its Fuel Band product. He was a buyer near $70. 

Grasso suggested investors buy what's inside wearable devices -- the chips, which are made by Intel (INTC) and Qualcomm (QCOM). He is long Qualcomm. 

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