Stocks of the Social media giants like Facebook Inc (NASDAQ:FB), LinkedIn Corp (NYSE:LNKD), Twitter Inc (NYSE:TWTR) and Pandora Media Inc (NYSE:P) were taking a beating and rebounded in recent months. CNBC’s Dominic Chu reported that stocks of all these social media big names started gaining ground and is very close to touching their record high.
Chu Said that a lot of focus from investors went to key parts of markets like utilities on one side and energy stocks on the other, but most investors got richer rewards from stealth rally and social media stocks.
Chu reported on recent trends of the social media stocks in comparison with their recent lows. Investors had to take a huge beating in the recent months from social media stocks, but recent uptrend in these stocks, with some of them even in bull market again gave investors a big boost. Overall social media industry (ticker is SOCL) lost nearly third of its value from early March to early May on an inter day basis, but it has gained up to 20% since then. Some people call that social media industry is in bull market territory.
Chu focused on the current status of the social media stocks like Facebook Inc (NASDAQ:FB), LinkedIn Corp (NYSE:LNKD), Twitter Inc (NYSE:TWTR) and Pandora Media Inc (NYSE:P).
LinkedIn Corp (NYSE:LNKD) stocks are up by 20% since its lowest back on May 7 inter day and needs another 50+% rally to get back to its record high which is still a long way to go. Facebook Inc (NASDAQ:FB) has gained 23% since its recent low and needs just another 8% to get back to record high. Twitter Inc (NYSE:TWTR) has gained nearly 40% since its recent low and has gotten back up above $40 per share. Internet radio company Pandora Media Inc (NYSE:P) has gained nearly 40% but still a long way to go before touching its record high.
Chu said that social media stocks are more volatile, which currently has outpaced the market, but they can also fall very fast on the down side as seen over the past few months. Investors must look into the momentum when they invest in these stocks, just like a lot of other tech stocks. For now, social media companies have given investors nice healthy returns.
Companies like Facebook Inc (NASDAQ:FB), LinkedIn Corp (NYSE:LNKD), Twitter Inc (NYSE:TWTR) and Pandora Media Inc (NYSE:P) are gaining at the moment.
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