McDonald's "master plan" looks to have fallen flat, and the company's shares may slide even more than they did Monday, CNBC "Fast Money" trader Guy Adami said on Monday.
The fast food giant on Monday outlined a turnaround strategy, which will include restructuring and cost savings in the next few years. McDonald's stock closed nearly 2 percent lower, around $96 per share.
The stock will keep falling into the low-$90s, Adami predicted from the eMerge Americas technology conference in Miami.
Shares of fast casual burger chain Shake Shack jumped nearly 7 percent on Monday. Trader Tim Seymour said he would "stay back" as the stock costs "an enormous amount of money" at its current valuation.
Shake Shack stock closed above $75 per share Monday.
Athletic apparel maker Lululemon's stock rose nearly 2 percent after RBC Capital Markets gave it an "outperform" rating. Seymour did not echo market enthusiasm, saying that investors should "take a pause" from Lululemon.
The stock closed around $65 on Monday.
Exact Sciences—which makes a colorectal cancer screening—reported quarterly revenue that beat Wall Street's expectations Monday. The stock surged 11 percent.
Adami said the company showed "outstanding growth" and can move higher from about $24, where it closed Monday.
Tim Seymour is long T, BAC, DIS, EUO, F, GE, GM, GOOGL, INTC and SUNE. Tim's firm is long BABA, AAPL, CLF, MCD, NKE, NOK, SBUX and YHOO.
Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M, MA and KORS. She is short SPY. Her firm is long AAPL, ANTM, BAC, C, CMLS, DIS, FINL, FL, GLNG, GOOG, GOOGL, GPS, IBB, JPM, M, KORS, XBI, SUNE and URI. Her firm is short IWM, MDY and SPY. Karen Finerman is on the board of GrafTech International.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.