We first mentioned Facebook December 29, 2016 when it was trading at $116.50. We loved everything about it and saw nothing but upside with a 12 month $185 target.
Today Facebook shares traded above our target. Sell and bank the win.
With all the Trump/Russian stories surfacing and major security breaches becoming more and more prevellant, the risk of holding shares far outweighs the reward.
At some point in 2018 the US Department of Justice will without a doubt look into data and security issues involving Facebook, Google and Amazon. This will put an end to the incredible run these stocks have enjoyed.
1 year return: +63%
Facebook position closed.