BALTIMORE ( Stockpickr) -- The craze over social networking site Facebook has become palpable in the last several weeks. From the Golden Globe-winning film The Social Network to the site's estimated half-billion users, the attention being thrown in Facebook's direction shouldn't be overlooked by Main Street investors.Founded just six years ago, the company's supposed $50 billion valuation is nothing to scoff at. Neither is the $450 million investment recently made by Goldman Sachs ( GS) on behalf of clients. That said, not all of the comments surrounding this company are positive. There's been considerable talk of late about a potential bubble forming in the private equity world following Groupon's snubbing of a $6 billion offer from Wall Street darling Google ( GOOG) and now the massive valuation placed on Facebook in 2011. If suggested numbers are to be believed, the latest investment in Facebook puts the firm's valuation at four times that of Google and five times that of tech behemoth Apple ( AAPL). Related: 3 Stocks That Could Rebound in 2011 There still may be ways for you to add exposure to this exciting trend to your portfolio. Here's a look at three ways to play the Facebook craze. Bandwagon Plays Don't put too much credence into the old saying that "it's a market of stocks, not a stock market." In fact, bandwagon plays really stand to rally on stronger sentiment for shares of Facebook. Simply put, a bandwagon trade is a similarly positioned play that stands to benefit from its mere connection to a news-driven stock. As investors who can't get access to shares of Facebook (which is open only to wealthier, accredited investors) look for ways to leverage the industry's attractive attributes, they settle for buying shares of marginally related companies. Among the best-positioned plays are News Corp. ( NWSA), whose once-dominant MySpace has undergone serious rebranding in an attempt to grow its market share, and Google itself, which offers a number of fragmented social media offerings. Neither of these is a direct way to play the social networking business. News Corp.'s digital media offerings, which include MySpace and iLike, have been poor financial performers of late and require a significant operational overhaul to stop being a liability. Even so, the trend could boost shares as long as Facebook-mania keeps going strong.
Twitter and become a fan on Facebook.