It is no shocker today that the social media shares are heading lower this morning. The Facebook shenanigans with its shares now down over 4% at $36.50 on almost 8 million shares is taking its toll elsewhere as you would expect. Should investors ask for a “claw-back” here? And by the way, Web 1.0 stocks are headed up as Web 2.0 stocks are heading lower
SINA Corporation (NASDAQ: SINA) got a huge bump ion on its “Chinese version of Twitter” pop last week but after peaking above $59.00 mid-week the stock is indicated down less than 1% under its $53.11 close from Friday. Keep in mind that this one may act differently as its 52-week range is $46.86 to $128.17.
LinkedIn Corporation (NYSE: LNKD), Facebook’s only real competitor based in the U.S., is trading down 2% at $97.01 on 50,000 shares.
Renren Inc. (NYSE: RENN) is down 8.3% at $4.52 on over 300,000 shares.
Global X Social Media Index ETF (NASDAQ: SOCL) will follow these lower if all of these remain where they are.
Yahoo! Inc. (NASDAQ: YHOO) is up 4% at $16.04 on 2 million shares and AOL Inc. (NYSE: AOL) has not traded due to its NYSE listing but is indicated higher along with Yahoo! Google Inc. (NASDAQ: GOOG) is up 0.4% at $602.40.
JON C. OGG