'Fast Money' Recap: Managing Market Highs

NEW YORK (TheStreet) -- The S&P 500 extended its winning streak to three straight sessions, finishing higher on Wednesday by 0.3%. 

On CNBC's "Fast Money" TV show, Brian Kelly, founder of Brian Kelly Capital, said Twitter (TWTR) needs to figure out a plan to accelerate growth. He is long the stock and is looking to sell on a pop higher. 

Dan Nathan, co-founder and editor of riskreversal.com, is short Twitter via a bearish options position. He admitted that the stock didn't trade too poorly on Wednesday and will eventually figure out a way to succeed. 

Guy Adami, managing director of stockmonster.com, said Wednesday's price action in shares of Twitter weren't that bad. However, he said there is likely more pain ahead for shareholders. 

Karen Finerman, president of Metropolitan Capital Advisors, is not a buyer of Twitter. She added that just because the stock declines, doesn't mean it's cheap, valuation-wise. 

Adami added that Twitter's poor earnings results highlight how good Facebook's (FB) recent earnings report truly was. 

Neil Doshi, managing director of CRT Capital Group, was a guest on the show. He said Yelp (YELP) saw a 60% growth in its local business users, while unique users grew 74% and mobile growth grew 53%. He added that Yelp could be an M&A target by Yahoo! (YHOO), as its underlying fundamentals continue to be very strong. 

Because of the huge sell-off over the past few weeks, Adami said investors could buy Yelp and use Wednesday's low as a stop-loss. 

Nathan was a seller of Yelp near $68. 

If you liked this article you might like

7 Essential Rules for Investing in Tech Stocks

Ryanair Customers Take Their Complaints to Social Media

Puerto Rico Is Completely Without Power Because of Hurricane Maria

Comcast Dodges Big Social, Moves Watchable In-House

Twitter Appoints Former Google CFO to Board of Directors