“If you were looking to short names that were ridiculously overvalued and people were not even thinking the growth was going to continue, I wouldn’t put Facebook in that category,” said Stephen Massocca, managing director at Wedbush Equity Management LLC in San Francisco.
“That being said, do I buy Facebook here? From my perspective, I am a value investor – I wouldn’t get anywhere near it with a 10-foot pole.”
That acceptance of Facebook’s legitimacy as a successful and viable company makes the comparison to the classic names that now surround it on the market cap list more palatable.
“In some respects, Facebook speaks to a demographic shift in the way retailing, social media and virtually every other component of people’s lives is being bundled,” said Peter Kenny, chief market strategist at Clearpool Group in New York.
“Investors are starting to see the brilliance of this platform in ways that haven’t to date really captured the imagination of many.” (Reuters)[eap_ad_3]