Facebook does not issue guidance. It has not updated the public on the progress of its mobile ad sales, other than to say they're going well.
Insert bold reiteration here: Hastings is on Netflix's board. He knows something. He's not concerned over Thursday's noise-induced drop in the stock. Who knows what caused it? Panic selling related to lockup expiration selling or that selling itself (assuming it's taking place). I'm not sure it matters.
What does matter?
Despite the media-generated hysteria, many social media stocks are nicely monetizing the mass migration to mobile, as I pointed out Wednesday on TheStreet. Hastings knows this. He talks to the founders and CEOs in the middle of the transformation.When you consider its worldwide dominance and incredible scale, you should wonder why investors, particularly long-term ones, would not put Facebook at the head of the mobile monetization line. While I can't officially speak for Hastings, I think he expects a blowout quarter, which will render Thursday's mini-crash in FB a blip on the short-term radar screen.
Follow @RoccoPendola This article is commentary by an independent contributor, separate from TheStreet's regular news coverage. At the time of publication, the author was long FB.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV