Jim Cramer: 'Facebook Is The Cheapest Of The High Growth FANG Trade'

"Mad Money" host Jim Cramer argued during his CNBC segment on Thursday that Facebook Inc FB is "now the cheapest of the high growth FANG trade."

The "FANG trade" refers to owning shares of Facebook, Amazon.com, Inc. AMZN, Netflix, Inc. NFLX and Google/Alphabet Inc GOOG GOOGL.

Shares of Facebook surged on Thursday and continued trading higher on Friday. In fact, the stock hit a new 52-week high of $112.84, is higher by over 6 percent since the start of 2016 and has gained more than 60 percent over the past year.

Q4 Results Look Good On Facebook

Facebook reported in its fourth-quarter results that it earned $0.79 per share on revenue of $5.84 billion. Analysts were expecting the social media empire to earn $0.68 per share on revenue of $5.37 billion.

Facebook's results received a seal of approval from both investors and Wall Street analysts. As an example, Ross Sandler of Deutsche Bank commented that Facebook's fourth quarter was "just the biggest upside print in 3 yrs, that's all."

Related Link: Facebook Absolutely Crushed Earnings And The Street Is Loving It

Cramer Reacts

Cramer said in his segment that shares of Facebook remain a good investment, despite its large run-up after its earnings. The "Mad Money" host added that he would naturally "like it even more" if the stock goes lower.

"Who knows in this crazy-town market; if oil goes down big, maybe it will get there," he said.

Shares of Facebook were trading at $111.92 on Friday afternoon, up 2.58 percent on the day.