On CNBC’s “Trading Nation,” Inside Edge Capital Management founder Todd Gordon said Facebook Inc FB has faced no shortage of negative news coverage and controversy, from privacy issues to trying to influence election campaign outcomes.
Although their manipulative practices are disappointing, in the longer term, “I believe in the company,” Gordon commented. He added that the company will right some of the wrongs either through regulation or natural market forces.
Facebook is well positioned in the social media space, Gordon said. He's very bullish about “where they’re going with AI and the virtual reality space.”
He said the stock had pulled back to $320 and identified this as a support. Gordon noted that Facebook’s earnings are scheduled for Oct. 25 and recommended to buy the 340 call and selling the 350 call with Oct. 29 expiration.
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