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The Facebook stock price today (Wednesday) dropped 0.73% in intraday trading, but the drop should not be a cause for concern for investors.
Because of the short trading week, investors generally don't add new positons. Many investors will actually remove holdings from portfolios.
Hedge funds and large investors who bought into the Facebook stock price at its 52-week high of $110.65 can actually write off the losses on their tax returns if they sell before 2016. The sell-offs and lack of action in the stock market are making the FB stock price drop today.
Despite the small losses in the Facebook stock price today, we are still very bullish on FB stock heading into 2016.
In fact, Money Morning Defense & Tech Specialist Michael A. Robinson lists Facebook as one of the best tech stocks to buy in 2016…
"CEO Mark Zuckerberg was always out to make his company into a massive global force," Robinson stated. "He began with a simple idea: Once folks' friends were on Facebook, they'd feel compelled to be there, too. And that idea made possible the engine that drove Facebook – 'viral' growth."
- Acquire a total of 1.55 billion monthly active users (MAUs), which is larger than the entire population of China
- Beat Wall Street's revenue expectations 12 out of the last 13 quarters
- Report year-over-year revenue growth since 2012
- Propel the Facebook stock price 175% higher than its IPO price of $38 per share
And even with all of the success, Facebook is still aggressively growing…
In 2015, Facebook purchased speech-recognition company Wit.ai, a video compression company called Quickfire, an e-commerce company called TheFind, and two augmented reality companies called Surreal Vision and Pebbles.
And this aggressive growth is why Money Morning readers shouldn't focus on the Facebook stock price today, but instead focus on the bigger picture. Facebook is turning into an unstoppable force…