Jim Cramer thinks there is someone trying to push down share prices for Facebook (FB) - Get Facebook, Inc. Class A Report after the social media behemoth handily beat Wall Street estimates when it reported earnings last week.
However, if Facebook shares fall, it is not all bad for people looking to take a position in the company, Cramer said.
"I just feel that there's someone raiding the stock," said Cramer, TheStreet's founder and manager of the Action Alerts PLUS portfolio, which owns Facebook. "It just feels like there's someone who wants the stock down right now. Let that happen. Let whoever's raiding it say what they want, and then start buying it again."
The Menlo Park, Calif.-based tech giant on April 27 proposed a stock split that would allow Mark Zuckerberg to maintain control of the company and still give almost all his Facebook shares to his philanthropic organization. To carry out the stock split, Facebook would issue two nonvoting Class C shares for each Class A and Class B share.
Facebook CFO David Wehner on the first-quarter earnings conference call said the proposal "will allow for the preservation of the voting structure that has served the company well to date while allowing for Mark to fund the Chan Zuckerberg Initiative over the course of his lifetime."
Zuckerberg and wife Priscilla Chan in December created the Chan Zuckerberg Initiative, which will be funded through the donation of 99% of their Facebook shares, in December. The couple established the organization to further their efforts of "advancing human potential and promoting equality," according to its website.
Facebook announced its first quarter earnings April 27. The company posted revenue of $5.4 billion, an increase from $3.5 billion the same time last year, and 77 cents in earnings per share, up from 42 cents per share the same time last year. CNBC reported analysts set expectations for $5.3 billion in revenue and 62 cents in earnings per share.
The company reported an uptick in many user metrics as well. Its daily active users totaled 1.09 billion in the first quarter, an increase of 16% from the same time last year while mobile daily active users stood at 989 million, an increase of almost one-quarter from the first-quarter 2015.
Facebook reported 1.65 billion monthly active users, an increase of 15% from the same time last year while 1.51 billion people were mobile monthly active users, an increase of more than one-fifth from the same time last year.