The "Fast Money" traders discussed athletic apparel stocks after shares of Adidas soared 9 percent on Wednesday.
The German sportswear company's CEO, Kasper Rorsted said the firm is pushing to build upon its progress in the U.S. market.
"We are creating U.S. products in the U.S. so we have the right products for the right consumers," Rorstead said. "We have grown 30 percent in the past year in the U.S., following a very strong year the previous year."
Trader Brian Seaburg said he like Adidas because of its management team, strategic initiatives, and better advertising. He said the company would continue to gain a larger share of the U.S. market.
Trader Brian Kelly said Adidas' move is detrimental to other players in the space, especially Under Armour. The athletic clothing company's stock is down 54 percent in the last 12 months.
Trader Guy Adami looked at Nike and said that there is not much of an argument in the Oregon-based company's favor. He said until the company's sales growth matches inventories, the stock will remain under pressure.
Trader Tim Seymour is more optimistic for Nike because of its multiple product channels. He said the company is innovating and is the only real competition for Adidas.
Disclosures:
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM
"Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore"
Brian Kelly is long Bitcoin, SLV