Facebook shares may be up 82% so far in 2013, but that's not stopping one of its execs from updating her status with the company.
Emily White, director of business operations at the company's Instagram subsidiary, is reportedly bailing out and headed to Snapchat, the startup competitor that is said to have turned down a $3 billion buyout offer from Facebook last month. But, this is no reason to be worried about a potential brain-drain from Facebook, says CNBC contributor Gina Sanchez, founder of Chantico Global.
"There are a lot of smart people still at Facebook," says Sanchez. "Their executive team is still delivering and I think they can still deliver even without Emily White. And, that's been the real story behind Facebook – they have delivered. They have increased their users [and] they have tackled the mobile market. Facebook really has done what it set out to do."
"You want to be buyer of Facebook right now," says Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson. This is in contrast to what was going on with the stock not so long ago, notes Ross. "When we discussed this stock two weeks ago, shares were staring into the abyss."
A reversal of the breakdown below the head and shoulders pattern neckline changed the bias of Facebook towards the upside, says Ross. He also believes the calendar is right now in Facebook's favor.
"This is a very strong period of seasonality for technology shares," says Ross. "January is the single best month for the NADSAQ going back to 1970. Given that false breakdown which caught people leaning in the wrong direction, in conjunction with that seasonality, you want to be a buyer here of Facebook."
Watch the video above to watch what Sanchez says about what challenges are ahead for Facebook and to see why Ross believes the chart changes the game for Facebook.
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