Facebook is a “buy” due to several growth catalysts down the road, CoRise President Bob Peck, a shareholder, told CNBC on Wednesday.
“If they just got 2 percent of their 500 million people that live on Facebook every single day to buy something through an Amazon store on Facebook, right there that’s $6 billion gross revenues, of which Facebook would get $1 billion or so in commissions,” he said on “Fast Money.”
Currently selling for half of its IPO price, Facebook stock would be “short-term choppy,” he said.
Peck also said that mobile ads, an app store and subscription services held great potential.
“I think the big thing is it’s a show-me story,” he said. “This is a tremendous opportunity. We think they’ll execute again.”
Trader disclosure: On Sept. 5, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Jon Najarian is long AAPL CALL SPREADS; Jon Najarian is long JPM CALL SPREADS; Jon Najarian is long SBUX CALL SPREADS; Jon Najarian is long FB CALL SPREADS; Jon Najarian is long GOOG CALL SPREADS; Jon Najarian is long LNKD CALL SPREADS; Jon Najarian is long CME; Jon Najarian is long CBOE; Jon Najarian is long GLUU; Jon Najarian is long STSI; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long INTC; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long NOK; Simon Baker is long AAPL; Simon Baker is long BAC; Simon Baker is long GS; Simon Baker is long WFC; Simon Baker is long AMZN; Simon Baker is long GOOG; Simon Baker is long P; Simon Baker is long LNKD; Simon Baker is long YELP; Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long F; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S.
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