RBC's Mahaney says Instagram Reels has opportunity

RBC released a new note on Thursday citing three promising product initiatives as potential catalysts for Facebook stock. RBC's lead tech analyst Mark Mahaney joins 'Squawk on the Street' to discuss the company's product initiatives. Facebook Marketplace may have over a billion users, he says, and is a massive global marketplace that is very lightly monetized. Mahaney says he thinks this will be a great year for social commerce, and that Reels will take advantage of TikTok's woes.