NEW YORK (TheStreet) -- Shares of GoPro (GPRO) declined 9.3% on Thursday after pricing its 10.4 million-share secondary offering at $75. The stock is now down 12% in the past three sessions, but if it can find support above $75 investors should buy it, Guy Adami, managing director of stockmonster.com, said on CNBC's "Fast Money" TV show.
Jon Najarian, co-founder of optionmonster.com and trademonster.com, agreed, adding he wants to be long GoPro going into its strong fourth-quarter holiday selling season.
Secondary offerings and lockup expirations are going to continue plaguing shares of GoPro, according to Steve Grasso, director of institutional sales at Stuart Frankel. He doesn't want to be long the stock.
Najarian added that El Pollo Loco (LOCO) , another IPO darling, has had a rough go lately. He likes the company's growth prospects and is a buyer of the stock once it can find some support. There seems to be more downside in shares of LOCO, Grasso added.
Facebook (FB) is another stock that's struggled, falling 8% since reporting earnings in late October. Although spending is going to increase, the company deserves the "benefit of the doubt," according to Karen Finerman, president of Metropolitan Capital Advisors. The stock seems like it should be trading higher.
The panel discussed reports that Alibaba (BABA) has over $50 billion in orders for its $8 billion bond offering. Robert Peck, managing director at SunTrust Robinson Humphrey, said the high demand will allow Alibaba to refinance some of its old debt at very low rates. The proceeds will likely be used to take stakes in smaller international ventures, so Alibaba can eventually gain additional penetration in other markets.
Alibaba is a tough stock to trade, Finerman said. Investors who want to own the stock should just buy it and hold on for the ride.
Alibaba and Amazon (AMZN) are two of Najarian's favorite retail plays at the moment. However, he said investors who are long retail stocks should take profits ahead of Black Friday, the day after Thanksgiving and the former start of the holiday buying season. The one exception is Best Buy (BBY) , whose sales extend beyond the holidays into the National Football League's Super Bowl weekend in February.
Grasso's top retail play is Best Buy because the company has all of the go-to holiday products this year. The company is also very competitive in e-commerce. His other picks include Macy's (M) and Abercrombie & Fitch (ANF) . ANF has long-term support at $29.
Shares of Gap (GPS) are down 4% in after-hours trading following its third-quarter earnings report. Finerman is long the stock and said she'll buy more on a dip below $38. As long as shares of Gap find support near current levels, investors can buy the stock, according to Adami.
There's a lot of leadership changes happening at Gap, said John Kernan, analyst at Cowen & Company. The underperformance from the company's flagship Gap brand is concerning, he acknowledged, but its margins are improving and the business generates plenty of free cash flow. There's likely limited downside in the stock price, he said.
Mobileye (MBLY) slid 5.7% despite beating revenue estimates and providing strong full-year guidance. The selling just seems like profit taking, according to Grasso. The stock is headed higher in the long-term. Investors can buy Mobileye if the stock finds support near $44, Adami said.
Michael Rapino, CEO of Live Nation Entertainment (LYV) , said his company recently announced a deal with Vice, a media company, to generate and distribute different kinds of content through multiple media outlets. He said the new platform should roll out in the first quarter of 2015.
Finerman, who's been a long-term shareholder, said the valuation isn't the most attractive but the company has plenty of growth ahead of it.
-- Written by Bret Kenwell