Fast Money : Mike Murphy " FB Has Magnet to $38, Story Just beginning for FB " LINKED
Fast Money 1/9/13 FB Magnet to $38: Mike Murphy
Facebook 'Has Magnet to $38': Mike Murphy
Ahead of a scheduled announcement from Facebook, Rosecliff Capital's Mike Murphy explains why he's bullish long-term on the social media giant.
Ahead of a scheduled announcement from Facebook, Rosecliff Capital's Mike Murphy said Wednesday that he expected strong, long-term performance for the stock.
"I'm long-term money in Facebook," he said on CNBC's "Fast Money."
Shares of Facebook broke above $30 after the company sent out invitations for an unspecified Jan. 15 announcement, and Murphy said the stock would continue to climb.
"As I said last week, or two weeks ago, I think the stock has a magnet to $38. I think this stock will print over $38 this year," he said. "It's been a long time coming, but I think from there, the story just begins for Facebook."