Facebook Inc. (FB) could be a good longer-term hold, but an investor should have a strong stomach throughout his or her holding period.

"If you stay long Facebook -- not necessarily a bad company or anything like that - but there's going to be, in my opinion, be continued news over the next six months or so, where you might have to deal with some of the volatility that goes along with that type of news," said JJ Kinahan, chief market strategist of TD Ameritrade.

Facebook is down 21% year-to-date. Slowing user growth in the European Union resulting from GDPR (General Data Protection Rules) hit its quarterly results in July. Concerns of future U.S. data regulation are lingering. More data breaches have happened in the second half of this year. News has come out suggesting some management turmoil at Facebook, which is somewhat related to the data and privacy issues.

"This tends to be a cycle that doesn't go quickly," Kinahan said. He added, "In my opinion, you're probably in the middle part of this cycle."

So why would an investor want to buy and hold for a longer period of time? "Their core business though, is still a pretty strong business overall," Kinahan said. Certainly, the potential user growth for Facebook's Instagram is huge. The potential monetization of that user growth is also very bright. With a falling valuation and a growth engine in Instagram, some on Wall Street are certainly saying Facebook could be a nice hold.

But there's still some reason to beware. "What you're weighing now is, will the potential volatility of news make this continue to be a tough hold?"

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