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Here’s why hedge fund manager Dan Niles likes Facebook as a reopening play

Daniel Niles

John Chiala | CNBC

Hedge fund manager Dan Niles said he likes Facebook shares as a reopening play and added a streaming alternative to Netflix in his portfolio.

While the Satori Fund founder and senior portfolio manager said he’s avoided high-valuation technology stocks, he believes Facebook could gain from increased advertising as Covid restrictions ease.

“They also benefit as hotels, airlines start to re-advertise,” Niles said Thursday on CNBC’s “Squawk Box.” “That business of theirs should continue to improve as economies across the globe start to open up.”

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