CNBC By: Paul Toscano 7/31/13
As Facebook opened for trading above the $38 level for the first time since its IPO, CNBC's Jim Cramer said that the fundamentals for the company are shifting, and the business has entered a "virtuous cycle" in the advertising space.
Cramer said, "they have the holy grail. No one can reach these millennials. No one can reach the right demo—so to speak—on the Web except Facebook."Cramer praised the company's nonintrusive advertisements, mobile strategy and a "virtuous cycle" in its numbers, where firms will be motivated to choose Facebook over more traditional advertisement mediums.