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7 holiday retail plays

It was a rough day for several consumer companies, even ahead of the last weeks of the year's busiest shopping season. "Fast Money" traders shared top stock picks for the holiday shopping season.

Camera-maker GoPro ended the trading session down almost 10 percent after being downgraded by major banks Citi and Morgan Stanley in the past few days. Retailer Macy's also ended the day down slightly, dipping more than 1 percent.

GoPro

A GoPro Hero 4 camera is displayed at the 2015 International CES in January.
Getty Images
A GoPro Hero 4 camera is displayed at the 2015 International CES in January.

Amid the downgrades, trader David Seaburg said there's no reason to buy shares of GoPro with other similar products hitting the market. Seaburg added that GoPro has not delivered on the promise of a content ecosystem to surround the cameras, while fellow trader Pete Najarian said GoPro also failed on ambitions for international expansion.

"This is a stock that is a hardware company — it should be valued like a hardware company," Seaburg said.

Read MoreDownbeat Americans may buy less for holidays: Survey

Credit card issuers

With shares down almost 45 percent this year, Macy's "has been a disaster for quite some time," trader Guy Adami said. Instead, the best way to trade the space is through Mastercard and Visa, up almost 12 percent and 18 percent this year, respectively.

Discount retail stocks

Discounters could be another trade going into the holidays, said trader Pete Najarian, who favored shares of retailers like Ross Stores, Burlington Coat Factory and TJX for their management of inventory and online sales.

"That's where they're all killing it, and that's where the big guys aren't able to do that," Najarian said.

Read MoreConsumer sentiment mostly unchanged in December

Disclosures:

Steve Grasso

Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long DVN, BP, COP, CVX, FCX, OXY, RIG kids own EFA, EFG, EWJ, IJR, SPY

Pete Najarian

Long AAPL, AMAT, BAC, BMY, BP, CSX, DIS, DISCA, DKS, FOXA, GE, KKR, KO, MRK, PEP, PFE, PHM he is long calls A, ABX, BAC, BEE, DAL, DOW, EMR, GDX, GLW, HAIN, LC, LULU, MOS, MRK, MSFT, PBR, POT, UAL, TA, TSN, UA, VZ, XLF, XLK, WYNN, ZIOP He is long puts FCX, MRO, WFT, X

David Seaburg

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc

Guy Adami

Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.