Facebook unveiled a new social search feature Tuesday that will allow users to search their friends' content on the Facebook platform.
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"Our mission is to make the world more open," said CEO Mark Zuckerberg at the event which was hosted at the Facebook headquarters in Menlo Park, Calif.
(Read More: One Thing We Know Facebook Is Working On (We Think) )
"I think what you have here is a natural sell the news reaction, however, the stock has been one of the better performers of all the Internet names in the last couple of months," said Jordan Rohan, managing director and senior analyst for Stifel Nicolaus on CNBC Tuesday. "And I think as people realize that there are infrastructure achievements that may need to roll out first before the businesses can be built on the back of those, that's what matters."
He said that Facebook has a lot of upside in the long-term, in the near-term he said that mobile ads will help boost the stock.
The new feature is called Graph Search and is a social search tool, not a global web search engine like Google, that will allow users to search Facebook's social graph. However, users can only search content that has already been shared with them.