NEW YORK (TheStreet) -- When many despised Facebook (FB - Get Report) less than a year ago, TheStreet's Jim Cramer and Stephanie Link were holding the stock in the Action Alerts PLUS portfolio they co-manage.
After the stock's huge run-up last fall, the duo decided to reduce their position and book some gains. After taking some profits, Link and Cramer decided last week that it was time to buy shares of Facebook again.
The company's decision to purchase rapidly growing WhatsApp for $19 billion shows that Facebook is willing to pay up for "increas[ing] its international presence and solidifies its efforts in instant messaging," they said.
They also like the company's strong growth -- in the most recent quarter, revenue rose 63%, with mobile advertising revenue topping $1 billion, a four-fold increase year-over-year.
Get more of Cramer and Link's top picks in real-time. Click here to begin your free trial today!
At the time of publication, Cramer's Action Alerts PLUS portfolio had holdings in Facebook.
-- Written by Bret Kenwell in Petoskey, Mich.