Only 45 percent of teens use Faceboook, according to a Piper Jaffray survey. That's a drop from this past spring when 72 percent of teens surveyed said they were using Facebook.
This isn't the first time we've heard kids aren't "liking" the social media behemoth as much as they used to. A year ago Facebook said it was seeing a decrease in younger teen users, but the latestsurvey demonstrates just how far and fast teens have been logging off.
However, on the flipside, while teens are increasingly fleeing Facebook, they are migrating to another property owned by the social giant: Instagram. The photo-sharing service now has 76 percent of teen use.
Facebook bought Instagram in 2012 for $1 billion, a bargain in retrospect given the service's growing popularity with the teen set.
"Kids are also moving towards anonymous chat sites, but Facebook is working on one of those as well," said Gina Sanchez, a CNBC contributor. "They are ready to move wherever the trends are going."
Richard Ross, global technical strategist at Auerbach Grayson, is also not too worried about Facebook's long-term fate, particularly because of the stock's technicals.
"It has ascended into the pantheon of great technology stocks," said Ross, a "Talking Numbers" contributor. "It's here to stay and when you look at the chart, it reflects that success."
Still, Ross remains cautious about Facebook shares despite the stock's 39 percent year-to-date returns. Though it held its technicallysignificant 200-day moving average – currently around $67 – Facebook broke below its 50-day moving average and what Ross sees as a six-month trend line.
"I would be a better seller into some strength here," Ross said. "I would trim the sails if I own some. I think that $80 number is likely to be the high for 2014. And I do see some risk here."
He's also keeping an eye on the company's next earnings release, set for Oct. 28. "Any misstep in that quarterly earnings call next week and you could see the stock retest the 200-day moving average by the end of the year," Ross said. "I do like this stock longer term, but I like it better on weakness."