Facebook (FB +5.1%) rallied in afternoon trading, and closed at $29.63. Topeka Capital's bullish...

|About: Facebook (FB)|By:, SA News Editor

Facebook (FB +5.1%) rallied in afternoon trading, and closed at $29.63. Topeka Capital's bullish call echoes a common argument among Facebook bulls: that the company will ultimately justify its lofty valuation by finding ways to leverage its giant user base and volumes of data to open up major untapped revenue streams. Those streams, in Topeka's view, include e-commerce, online payments, search ads, and classifieds, and are collectively worth over $1T.