Speaking on CNBC's Stock Pops & Drops, Karen Finerman said that Sothebys (NYSE: BID) traded 1.64 percent lower on Wednesday despite the record prices on its auctions. She explained that the stock stock went up before the event.

Guy Adami explained that JP Morgan downgraded JetBlue Airways Corporation (NASDAQ: JBLU) and the stock slipped 3.24 percent. He is a little bit concerned that the stock is having trouble at $13.25, but he would buy it into the analyst day.

Steve Grasso said that he wouldn't chase Fossil Group Inc (NASDAQ: FOSL), which traded 8.41 percent higher on the news that it could be getting into the smartwatch arena. He wants to see it holding $105 before he buys the stock.

Brian Kelly thinks that it is not a big deal for a $3 stock to move 3 or 4 percent. Glu Mobile Inc. (NASDAQ: GLUU) fell 4.15 percent on Wednesday and Kelly would never buy it because it is necessary for the company to be able to find a new product.