Why I’m buying Facebook Stock

Facebook’s IPO was less stellar than expected on Friday.  It opened at $38 jumped to $42 then back down to $38.

I believe the Facebook stock has potential because it has been the premier social networking site for many years now and is so ingrained in society that even Google Plus can’t dethrone it.

I have a buy order for $2000 worth for Monday morning.  I’m in this for the long-term.  Possibly a year or two.  I think Facebook can rule the internet for at least long enough for its stock value to at least double if not triple.

I bought apple stock back in the days when it was around $29.  If I had held on to $2000 worth of stock at that price I would now have $37,241.   What a schmuck I was for selling it so long ago.  I think Facebook can at least double my investment.  It only has to go to $76 to do it.

Let the ride begin!

Advertisements