Amid a report in The Wall Street Journal about Facebook's (FB - Get Report) plans to spend some $1 billion on original content, TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said this is another reason to own the stock.

"It remains a core position for Action Alerts PLUS," Cramer said. Cramer added that Facebook's strong cash pile -- now more than $30 billion -- is another key consideration.

Facebook shares are up 51% since the start of the year.

Facebook are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells FB? Learn more now.

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