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 (NASDAQ: FB) is "now the cheapest of the high growth FANG trade."

The "FANG trade" refers to owning shares of Facebook, Amazon.com, Inc. (NASDAQ: AMZN), Netflix, Inc. (NASDAQ: NFLX) and Google (Alphabet Inc (NASDAQ: GOOG) (NASDAQ: 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.

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