Trader Brian Kelly largely agrees. “If you buy Facebook at $20, then put it in a drawer for 20 years, when you take it out I think you’ll be very happy.”
In case you’re wondering about the lock-up expirations, another 243 million shares will be released from lock-up between mid-October and mid-November. On November 14, more than 1.2 billion shares will be available for trading. Mark Zuckerberg will not be able to sell his shares until then.
Posted by CNBC's Lee Brodie
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Trader disclosure: On August 16, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Brian Kelly is long TGT; Brian Kelly is long XHB; Brian Kelly is long GLD; Brian Kelly is short DLTR; Brian Kelly is short DG; Brian Kelly is short FDO; Mike Murphy is long AAPL; Mike Murphy is long SBUX; Mike Murphy is long TWI
For Deborah Weinswig
Within the past 12 months, Citigroup Global Markets Inc. or its affiliates has acted as manager or co-manager of an offering of securities of TGT
Within the past 12 months, Citigroup Global Markets Inc. or its affiliates has acted as manager or co-manager of an offering of securities of DG
Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as investment banking client(s) WMT
Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as investment banking client(s) M
For Julian Mitchell
I, Julian Mitchell, certify that (1) the views expressed in this report accurately reflect my personal views about all of the subject companies and securities and (2) no part of my compensation was, is or will be directly or indirectly related to the specific recommendations or views expressed in this report.
The analyst(s) responsible for preparing this research report received compensation that is based upon various factors including Credit Suisse's total revenues, a portion of which are generated by Credit Suisse's investment banking activities.
For Mark Hawtin
GAM is long AAPL
GAM is long FB
GAM is long MSFT
GAM is long GOOG
GAM is long STX
For Porter Bibb
MediaTech is long AAPL
CNBC.com with wires.