NEW YORK (TheStreet) -- The story of Apple's  (AAPL) - Get Report shares falling Tuesday a day after it reported impressive earnings was one the biggest of the day -- until Twitter's (TWTR) - Get Report earnings results were leaked before the close of trading, sending shares tumbling down to roughly $40. 

Twitter stock recovered, but still closed 18% lower after the company reported lower-than-expected revenue but topped earnings per share expectations. Twitter also guided for weaker-than-expected second quarter and full-year results. To Brian Kelly, that means it will probably take a quarter or two for the company to turn its operations around.

Kelly, founder of Brian Kelly Capital, said on CNBC's "Fast Money" that for a short-term trade, investors can buy the stock. 

Steve Grasso, director of institutional sales at Stuart Frankel, is long Twitter and said investors can use $40 as a stop-loss. Investors were "tripping over themselves" to buy the stock when it dropped down to $40, he added. 

On Monday, Bob Peck, managing director at SunTrust Robinson Humphrey, downgraded Twitter from buy to hold and lowered his price target from $58 to $50. Peck says the current selloff is justified, given the poor results and lousy guidance. Ad engagement is also declining, he added. 

Just when it seemed like the stock finally had bullish sentiment, the company squandered the opportunity and turned sentiment bearish once again with these results, said Tim Seymour, managing partner of Triogem Asset Management. 

Seymour questioned if investors are giving management enough time develop its new products and initiatives. He said near $40 investors can be long the stock because revenue growth is still strong. 

Revenue growth is also slowing, added Pete Najarian, co-founder of and Investors are punishing the stock based on its results, not the earnings leak, he said. The stock appears to be oversold and investors can sell put options to form a long position.

All four of the traders viewed the recent selloff in Twitter as a buying opportunity, as did Dennis Gartman, editor and publisher of The Gartman Letter. Gartman bought the stock near $40, saying investors were reacting with "utter and complete irrationality." 

Twitter's poor results make Facebook (FB) - Get Report look more attractive to advertisers because it has higher engagement and creates more value, Seymour added. 

Turning to GoPro (GPRO) - Get Report, the stock initially sold off 4% in after-hours trading, before rebounding and climbing 8.5%. This rally follows the stock's 4% rally in the regular session and comes after GoPro's top- and bottom-line earnings beat and better-than-expected second-quarter guidance. 

As long as the company can sustain its growth rate, shares are not too expensive based on valuation, Najarian said. Kelly agreed, adding the company has done a great job forming an "ecosystem" with its product and can eventually form its media business. 

Seymour disagreed, saying that at 27 times next year's expected earnings, shares of GoPro are simply too expensive because it's only a hardware company. Competition is also likely to heat up. It's a "no touch," he argued. 

Global awareness for the product is rising, which will likely drive sales higher, according to Alex Gauna, a senior analyst at JMP Securities. Sales in emerging markets, in particular Asia, will be important for GoPro, as the company enters its seasonally slow sales period in the U.S. 

In the long term, it's about GoPro's media opportunities, while the short term will be driven by unit sales of its action cameras, he said. Gauna has a market perform rating on the stock and a $105 price target.

For their final trades, Kelly is buying the Market Vectors Gold Miners ETF (GDX) - Get Report and Grasso is a buyer of Twitter. Seymour said to sell Mobile TeleSystems (MBT) - Get Report and Najarian is buying YPF Sociedad Anonima (YPF) - Get Report.

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