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Facebook’s the Top Player in This Metric: Peck
Published: Tuesday, 23 Oct 2012 | 5:36 PM ET
By: Bruno J. Navarro
Facebook’s [FB 19.50 0.179 (+0.93%) ] 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.