Shares of consumer review platform Yelp also sunk in extended trading after earnings, falling more than 16 percent. The company posted a surprise loss, while third-quarter sales guidance was light.
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The stock has shed 51 percent in the last year.
"There doesn't seem to be a low that's low enough," said trader Dan Nathan.
Trader Pete Najarian agreed, saying the business has shown "deterioration."
Social media giant Facebook has fared much better than Twitter or Yelp this year. Shares have risen more than 22 percent, and traders believe the run will continue after the company reports earnings Wednesday.
"I'm going into this bullish," said trader Pete Najarian, adding that Facebook has "taken over" social media.
"If you're still in the name, I think you've got to stick with it," added Grasso.
Karen is long BABA, BAC, C, FINL, FL, GILD, GOOG, GOOGL, JPM, KORS, M, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, MYL, PFE, SUNE, URI, XBI, KORS call spreads, SUNE call spreads, KORS puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International.
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