Facebook takes out October highs

• Facebook (FB +2.4%) has surpassed its Oct. 28 all-time high of $81.16, made shortly before the company sold off in response to the conservative Q4 guidance and aggressive 2015 spending forecast provided with its Q3 beat.
• Shares are up 49% YTD vs. a 14% gain for the Nasdaq. They now go for 43x 2015E EPS and 13x 2015E sales.
• Last Friday: Citi values Instagram at $35B