*By Conor White*
Though he sued Mark Zuckerberg for stealing the idea for Facebook, Divya Narendra said he's excited about the future of the social media giant, and sees Facebook as a good investment.
"If you have a long-term mindset, this is probably one of the cheapest stocks you can own," said Narendra in an interview Thursday with Cheddar's Kristen Scholer and Brad Smith. "On a price-to-earnings basis, or on a price-to-growth basis, really versus any other stock in this sort of large cap universe."
Narendra hit Zuckerberg with an intellectual property suit for allegedly stealing the idea for Facebook while the two were students at Harvard. They settled in 2009 for around $65 million ー $20 million in cash and 1.25 million Facebook shares. Despite that antagonistic history, Narendra is bullish on Zuckerberg's company.
"You saw a 15 to 20 percent drop in the stock off of bad PR, which is I think a solvable problem," said Narendra. "I guess that's how the markets work, but clearly an overreaction."
Narendra is the chief executive of SumZero, an investment website for professional investors.
For the full interview, [click here](https://cheddar.com/videos/facebook-looks-to-future-after-beating-earnings-expectations).
Microsoft has relinquished its seat on the board of OpenAI, saying its participation is no longer needed because the firm has improved its governance.
Target will no longer accept personal checks from shoppers as of July 15 in a sign of how a once ubiquitous payment method is going the way of the dodo.
A Delaware judge is considering a massive and unprecedented fee request by lawyers who successfully voided a pay package for Tesla CEO Elon Musk
The Bank of America Institute found that average monthly rent payment growth for the bank's small business clients rose 12% year-on-year.
A driverless ride-hailing car in China hit a pedestrian, but people on social media are taking the carmaker’s side in an AI vs. humans debate.
The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in a possible sign of looming rate cuts.
America’s oldest flour company, King Arthur Baking Co., saw a six-fold increase in demand during the pandemic, and baking interest continues to rise.
The surgeon general has said there's a loneliness epidemic in America. For many people, that includes a lack of friendships at work. But there's hope!
The housing market shows few signs of busting out of its three-year funk after a disappointing spring season and amid a gloomy outlook for the summer and f
The entertainment giant Paramount will merge with Skydance, closing out a decades-long run by the Redstone family in Hollywood and injecting cash.
Load More