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Alibaba's long-term growth prospects make it an appealing stock to buy and hold, some CNBC "Fast Money" traders said Wednesday.
"The story about Alibaba is a long-term growth story," said trader Tim Seymour. "I think you stay long now."
Seymour's comments came after Jack Ma, the Chinese e-commerce company's founder and executive chairman, touted its potential for international expansion during his tour of the United States this week. For Seymour, fears about Chinese regulation stifling Alibaba are "way too high."
Those concerns have partially contributed to the company's U.S.-listed shares falling 15 percent this year. Trader Brian Kelly believes the stock will move higher from where it closed Wednesday, around $89 per share.
Despite agreeing that Alibaba looks strong long-term, trader Steve Grasso noted that it may not work out of its slump any time soon.
"I think, short term, it's a sell," Grasso said.
Shares of video streaming company Netflix jumped nearly 4 percent Wednesday. With that gain, the company's stock has soared about 96 percent this year.
The stock's value is "stratospheric," Seymour said. Grasso contended that investors should take profits on the stock where it closed Wednesday, above $670 per share.
Shares of cloud storage company Box jumped as much as 10 percent in extended trading after it reported a smaller than expected quarterly loss and beat analysts' revenue projections. Still, the "the bar was set very low" for the money-losing company, Seymour contended.
He said that investors should sell the move higher.
Tim Seymour is long AAPL, T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, LGF and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX and YHOO.
Steve Grasso is long AAPL, BAC, DD, DECK, EVGN, MJNA, PFE, T, TWTR and GDX. His firm is long CAT, WYNN, AMZN, NE, NEM, OXY, RIG, TSE and VALE. His kids own EFG, EFA, EWJ, IJR and SPY.
Brian Kelly is long DXGE, BTC=, BBRY, U.S. dollar and Oil. He is short Australian dollar, Canadian dollar, yen, yuan,U.S. 30-year bonds and DAX.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.