'This is going to be the biggest thing that's happened to Facebook in years,' says CNBC's Jim Cramer. 'It will be vital.'
's reported plans for a cryptocurrency is a reason for investors to get behind the social media giant's stock.
The coin launch, if it were to happen as expected in the near future, would lead Facebook's stock to "take out its high," Cramer said on "Shares of Facebook were about 3% higher on Monday, trading around $187 each. The stock would have to jump more than 16% to eclipse its all-time high of more than $218 in late-July 2018.
"This is going to be the biggest thing that's happened to Facebook in years," Cramer said. "It will be vital."executive David Marcus to begin exploring options with blockchain.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The All-Time Best-Dressed Celebrity Dads in HollywoodFrom tuxes to T-shirts, the style of these fathers is on point.
Read more »
The Best New Beauty Products This Month: Gucci's First Makeup Launch, High Impact Glitter, and MoreThe best beauty buys from May 2019.
Read more »
A 20-year-old bitcoin millionaire is determined to create the ‘Acorns of crypto’Before he turned 19, bitcoin bets made Erik Finman a millionaire. Now, the crypto wunderkind says he wants to create a platform for investing in cryptocurrencies that is easy for average folks to use.
Read more »
Facebook took down a bunch of political Huawei adverts in the latest blow to the Chinese tech firmHuawei has been at the heart of a geopolitical skirmish between the US and China, which escalated when the US blacklisted the company.
Read more »
Mark Zuckerberg is selling up to $13 billion of Facebook stock to fund an ambitious project to end disease: Here's an early look insideTwo years after Mark Zuckerberg and Priscilla Chan announced an audacious plan to use their Facebook fortune to try and end disease in their children's lifetime, The Chan Zuckerberg Initiative has ballooned to 250 people. An early focus is helping scientists from different research groups collaborate.
Read more »