Facebook: It was right to Buy
An impressive gain for Facebook (FB) shares this week and we told you consider the stock on Monday. From $18 range to close Friday at $22, the 'Like' button has been pressed.
This week was the perfect storm for a FB rebound and as we stated earlier this week:
The Hater-Aid is not as strong on Facebook these past few trading days. There are bigger issues out there right now. Perhaps the dust has settled on Facebook the publicly traded company.
Facebook.com almost has 1 billion users. Imagine if you could milk just one dollar from a quarter of its users every few months. It starts to make the stock look interesting.
Its difficult to keep every stock on your radar. Its why dumb websites like the Masters is here to watch the market for you and remind you of fallen prey like Facebook. We noted that Howard Lindzon took a reluctant chance on FB shares this week.
He was right to do so. To invest successfully involves keeping your ear on the Street and Howard is a credible Wall Streeter who is worth listening to. Zuckerberg's performance at TechCrunch.com's conference was just what traders needed to hear. Add to it the incredible move in equities this week and it was off to the races. As we stated, the hate had settled on FB and it was time to consider the company with almost 1 billion users. Congrats to those who bought on the dip and enjoyed almost a 20% gain in one week.
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