Eric Steiman, manager of the Undervalued Opportunities investment model at Covestor, says that Facebook (FB) continues to gain traction with its mobile advertising strategy.
Facebook made “zero dollars” in 2011 on mobile ads, Steiman told the E-Commerce Times. Yet it posted $250 million in mobile revenue in Q3 2012.
“That is a huge move for any company,” Steiman said. “They will continue to gain traction as more users flock to mobile devices for all their needs.”
Steiman is making a fairly large bet on Facebook this year: It now accounts for more than 10% of the total holdings in Undervalued Opportunities, and is a top 5 position.
You can see his full interview with the E-Commerce Times here.
The investments discussed are held in client accounts as of January 7. These investments may or may not be currently held in client accounts. The reader should not assume that any investments identified were or will be profitable or that any investment recommendations or investment decisions we make in the future will be profitable.
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