GO
Loading...

Facebook is a 'great long-term holding,' says pro

On the day Facebook finally breaks the $40 dollar mark after more than a year as a public company, one portfolio manager forecast a bright if choppy future for the social media behemoth.

"It's a business in flux," Michael Cuggino, president of Permanent Portfolio Funds, told CNBC's "Street Signs" on Friday. "They have an incredible intangible asset, with all the data and information and communication. ... The question is how do you monetize that?"

(Read more: Stick with Apple, Facebook for now: Pro)

"I think it is going to be a choppy ride," he added. "But we think over the long term, they are going to monetize a lot of this information asset that they have in a tremendous way. It is a great long-term holding."

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • Mad Money's Jim Cramer breaks down the theme of stealth technology stocks. Cramer says companies that are using proprietary technology to invent entirely new markets and then dominate those markets, fall under that category.

  • Mad Money host Jim Cramer knows it can be difficult to stick with a stock that is going lower but says if you've done the homework, and the story isn't wildly off the rails, then stay long.

  • Mad Money host Jim Cramer, outlines the most common emotionally driven investor mistakes and expresses why it is important to not let skepticism run away with you.