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Traders debate whether Twitter has bottomed after Salesforce rules out bid

The "Fast Money" traders debated whether Twitter shares have bottomed, after they fell 5 percent on Friday following news that Salesforce ruled out a bid for the company.

Trader Dan Nathan said that although Twitter probably has a "broken model," as a stock he doesn't think there is a lot of risk at its current valuation.

Trader Tim Seymour said the social media company's upcoming earnings report on Oct. 27 could be a "very big announcement." Seymour said positive forward guidance could outweigh possibly sluggish sales and monthly active user numbers.

Trader Guy Adami said that Salesforce, which rallied on Friday's news, may continue to gain.

Disclosures:

TIM SEYMOUR

Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, and short EWG, HYG, IWM.

KAREN FINERMAN

Karen is long AAL, BAC, C, DAL, long DB calls, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Finerman is on the board of GrafTech International.

DAN NATHAN

Dan Nathan is TWTR long, PYPL long Oct calls, XHB long Jan put spread, XLU long Dec call Spread, XLK long Jan Put spread, XRT long Jan put spread, PG long Dec put spread, EEM long Nov put spread.

GUY ADAMI

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