I'm long FB and yes, first investment was during IPO launch but have since averaged down. It will take a couple more quarters of sustained earnings growth before FB sheds the black eye it started out with. Management has only begun to tap mobile revenues and is proving they have a strong game plan in place - which was non-existent during the IPO launch.
What I'm enjoying most is the analysts covering FB really have no clue as to what price target they should give FB based on future growth earnings. Sky's the limit IMO and I expect FB will continue to outperform.. FB touches every corner of the world, emerging markets are just being tapped, and those subscribers that do tire of FB are being replaced by new subscribers daily. The first year has been rough but longs will be rewarded.