Facebook’s the Top Player in This Metric: Peck
Facebook's advertising revenue in the third quarter is a positive sign, but there's a bigger reason to own the stock, CoRise President Bob Peck said Tuesday on CNBC.
On "Fast Money," he said that while Facebook beat expectations, but one number stood out: "The reacceleration of advertising revenue."
While the expiration of lock-up periods that prevent the sale of insider shares are a concern, Peck said that he took "solace" in that management hasn't sold shares since the IPO, other than CEO Mark Zuckerberg shedding some stock to settle tax obligations.
Instead, Peck saw potential in the stock from what's happening behind the scenes.
"I own it because I spend the whole day speaking to industry personnel, and they tell me what they see as far as these new products going on," he said.
Facebook Exchange, which would enable e-commerce, was a big factor, but more importantly, mobile would create growth for the social media giant, Peck said.
"Facebook is by far and away the leader," he added.
Trader disclosure: On Oct. 23, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: BOB PECK IS LONG FACEBOOK; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long GOOG; Karen Finerman is long NFLX; Karen Finerman is short SPY; Karen Finerman is short MDY; Karen Finerman is short IWM; Tim Seymour is long BAC; Tim Seymour is long SBUX; 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; Dan Nathan is long GS NOV 115/110 PUT SPREAD; Dan Nathan is long JPM NOV 47/40 PUT SPREAD; Dan Nathan is long MS JAN 10/5 142 PUT SPREAD; Dan Nathan is long YHOO JAN 17.5 CALLS; Dan Nathan is long AZN NOV 230/210 PUT SPREAD; Dan Nathan is long CHK JAN 12.50 PUTS.
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