As the lockup period expires for more than 800 million Facebook insider shares, the stock could finally be a "buy," Dan Nathan of RiskReversal.com said Tuesday on CNBC.
With its share price down $25 from better-than-expected quarterly earnings, Facebook will most likely see a pop, Nathan said on "Fast Money."
"To me, I think that the selling you see tomorrow is most likely a 'buy,' more from a technical set-up, just because of all this pressure that they've had, the overhang," he said. "But on a fundamental basis, you have to give this company a couple more quarters."
Facebook shares closed at $19.86 a day before the lockup expiration, which releases insiders from selling their stock. Approximately 804 million shares will be eligible to be sold.
Stuart Frankel's Steve Grasso was also bullish.
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"It's definitely a buy," he said, noting that the cost of borrowing the stock has decreased along with shorts.
"It's sort of a telegraphed punch at this point, not based on fundamentals," Grasso added. "It's a technical set-up, just for a little bit of a bounce. I'd buy the weakness."
Trader disclosure: On Nov. 13, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Brian Kelly is long EWT; Brian Kelly is long SMH; Brian Kelly is long JJG; Brian Kelly is short EEM; Brian Kelly is short IYT; Steve Grasso is long ACI ; Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long AUO; Steve Grasso is long BA; Steve Grasso is long BTU; Steve Grasso is long CLF; Steve Grasso is long F; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long P; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long WYNN; Dan Nathan is long NOV/DEC 16 PUT SPREAD; Dan Nathan is long YHOO JAN/DEC 17.5/18 CALL SPREAD; Dan Nathan is long FB NOV 22/24 CALL SPREAD; Dan Nathan is long MSFT JAN 26/24 1X2 PUT SPREAD; Dan Nathan is long HD JAN 62.5/55 PUT SPREAD; Tim Seymour is long INTC; Tim Seymour is long TROX.
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