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Traders: Snapchat could give Facebook a boost

Amid Snapchat's reported new funding round, "Fast Money" traders only saw more reason to own Facebook.

The mobile messaging app is raising about $200 million in a funding round, which could send its valuation as high as $22.7 billion, TechCrunch reported Monday, citing sources. Snapchat, which has about 100 million daily users, allows users to send a disappearing "snap" to contacts, or post photos or videos to a "story."

Trader Guy Adami contended Snapchat's valuation gave more reason to be bullish on social media leader Facebook.

"Facebook is so far ahead of the curve," he said.

The company's shares have soared 46 percent in the last year. Trader Pete Najarian also said investors "probably want to be in Facebook" if they choose to buy into social media.

Shares of another social platform, Twitter, touched an all-time low on Tuesday on the heels of a bearish analyst report. Trader Brian Kelly contended investors should not buy into Twitter until the stock gains momentum.

It has plunged more than 60 percent in the last year.

Disclosures:

Guy Adami

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

Brian Kelly

Brian Kelly is long Bitcoin, US Dollar; he is short Australian Dollar, BLK, Euro, EWA, EWH, FRC, Hong Kong Dollar, IWM, Yuan Short: SPY and S&P 500 Futures

Pete Najarian

Long AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, VIAB, ZIOP Long Calls: AAL, AKS, AMJ, CRM, EGO, EWZ, FEYE, GLW, GS, GSAT, HAL, HBAN, KGC, LLY, MT, NLNK, POT, SLV, SRPT, SVU, UAL, YHOO Long Puts: BBY, BID, FCX, PBR, VLO

Dan Nathan

Long PFE Long TWTR, GE long May 28 puts XHB long June put spread IWM long Sept 100 put XLB long June put spread XLF long May/ Sept Put spread HYG long June put spread XLK long Sept Put spread FXI long aug put spred SMH long aug put spread, KO june / aug put calendar, long UA call calendar, long PYPL call calendar, long TLT Sept risk reversal