All I know is what I read and heard from Wednesday's earnings call. FB's number of daily active users soared 27% from the year-ago quarter to nearly 700 million. It won't be long till that number hits 1 billion.
In fact, FB says that the number of monthly active users leaped 21% during the last quarter to an astounding 1.16 billion. Can you imagine the ad sales potential at FB in the quarters to come?
If shares of FB were to drift lower over this correctional stock market season -- which often goes through November -- I may be able to buy back my shares at more attractive prices.
Its next quarterly earnings call should be toward the end of October. Hey, maybe I'll get lucky, with another fiscal cliff looming and a debt-limit standoff between Congress and the White House?
How lucky might I get with a stock like Facebook? Perhaps a chance to buy back at $27 is certainly in the realm of possibility. FB might agree, based on comments made during the earnings call.
It threw water on expectations going forward, and even warned that next quarter it would face more stringent comparisons. Advertising for its main news feed channel began to significantly affect revenue in the second half of 2012. That will be what the next quarter will be compared against.
At the time of publication, the author was neither long nor short any stock mentioned in this article.
This article was written by an independent contributor, separate from TheStreet's regular news coverage.