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.