It's been an amazing summer for Facebook (NASDAQ:FB) investors. In the wake of its earnings blowout, the social networking stock exploded in July, rising nearly 50% in just the last month alone and surpassing the $38 level where the company made its public market debut last year. And unlike its IPO valuation, this recent run-up certainly seems more justified. Why? Because Facebook's management has executed beautifully on most of its key strategic initiatives, most notably building out its mobile advertising platform. In this video, Fool contributor Andrew Tonner argues that while there's a lot to like with Facebook, those thinking of buying today still might not be getting their money's worth at today's prices.

Fool contributor Andrew Tonner has no position in any stocks mentioned. Follow Andrew and all his writing on Twitter at @AndrewTonnerThe Motley Fool recommends Facebook. The Motley Fool owns shares of Facebook. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.