Investors are now feeling quite social.
Social media stocks saw a huge bounce Wednesday after getting hammered in the past month.
Facebook, whose stock jumped over 7 percent after losing more than 15 percent from its high of $72.59 on March 11, was propelled by some upbeat comments from analysts at Susquehanna, SunTrust and Piper Jaffray.
(Watch: Investor 'likes' Facebook)
The stock may have also benefited from Facebook’s COO Sheryl Sandberg appearance on NBC’s “Today Show” on Wednesday morning, where she put to rest any thought of a possible early departure by saying the recent stock sales were for "tax purposes."
So, will the positive momentum continue Thursday? And should you like Facebook?
According to JC O’Hara of FBN Securities, the charts look good.
“This is where it gets interesting,” O’Hara said. “If we get a sustained close above $64 per share, I think the bulls are back in charge and I think you can jump in.”
John Stephenson of First Asset Investment Management agrees with the technicals.
“I don’t just like it, I love this name,” said Stephenson, who finds Facebook’s fundamentals fantastic. “It’s cheap, it’s got high margins and high growth, and it’s in a hot sector.”
And Stephenson’s enthusiasm on the social giant doesn’t stop at the fundamentals. “I don’t think Sheryl Sandberg is leaving, I’m certainly not leaving. I’d be a buyer here. This stock’s going to $80 on the growth.”
So should you make friends with Facebook? Check out the video to find out.
- Arts & Entertainment
- Sheryl Sandberg