Rumors that billionaire investor Carl Icahn was interested in Hewlett-Packard sent the company's shares soaring, but does that mean there's a basis to jump into the name?
"This seems to be right up his alley," Drakon Capital's Guy Adami said on "Fast Money."
While acknowledging that he had no knowledge whether the rumor was true, Adami added that the rumor could have set up a bottom for the shares.
Hewlett-Packard's shares traded down after accounting irregularities connected to its acquisition of Automomy were publicized.
"The stock has traded pretty well on what has been a flat tape," he added.
Pete Najarian of OptionMonster said it was an "interesting" proposition.
"At this level, your downside is very, very limited," he added.
Trader disclosure: On Dec. 10, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Anthony Scaramucci is long AAPL; Anthony Scaramucci is long BAC; Anthony Scaramucci is long C; Anthony Scaramucci is long GD; Scott Nations is long SPY; Scott Nations is long C; Scott Nations is long BAC; Scott Nations is long BAC CALLS; Brian Kelly is long XLB; Brian Kelly is long GLD; Brian Kelly is long SLV; Brian Kelly is long PPLT; Brian Kelly is short XLF; Brian Kelly is short XHB; Pete Najarian is long AAPL; Pete Najarian is long BAC; Pete Najarian is long JPM; Pete Najarian is long INTC; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT.
