The Nasdaq and NYSE short interest for the end of November is out and it shows some serious changes in the social media sector. While Facebook Inc. (NASDAQ: FB) saw a huge drop in the short interest, that was not the case universally. Other social media players saw the short interest rise. We have added color on each.
Facebook Inc. (NASDAQ: FB) saw a massive drop in the short interest, and now the short interest is lower than it has been in all but a few occasions. The November 30 short interest fell to 56.89 million shares, versus 95.3 million shares in mid-November. It was 87.988 million shares before that and 73.38 million shares before that. The final big lock-up passage obviously was the prior draw.
Firsthand Technology Value Fund (NASDAQ: SVVC), an investor in Facebook and other social media efforts, saw a gain to 244,905 shares short at the end of November, versus 227,807 shares short in mid-November. While this is not a high on a nominal basis, this is a high on days to cover at almost 8 days worth of volume now that trading volume is lighter each day.
Groupon Inc. (NASDAQ: GRPN) saw yet another gain, with its short interest rising to 46.2 million from 43.5 million. This is a smaller gain compared to the prior short interest gain of 20%, but the days to cover was flat at 1.58. This new reading is still one of the highest short interest readings of 2012 for the coupon website.
LinkedIn Corp. (NYSE: LNKD) saw its short interest rise to 5.21 million shares short at the end of November, versus 4.44 million shares in mid-November. This is the second highest short interest since mid-May.
Renren Inc. (NYSE: RENN) saw its short interest cut by one-third to 6.32 million shares at the end of November, versus 9.89 million shares in mid-November. This was the lowest short interest of 2012 and only about one-quarter of the peak short interest of more than 24 million shares short in mid-May.
Global X Social Media Index ETF (NASDAQ: SOCL) is light in volume but it is focused on the social media space (more or less). Its November 30 short interest fell to 14,385 shares, versus 16,415 shares in mid-November. This is the highest days to cover, at 3.6 days, going all the way back to July.
Zynga Inc. (NASDAQ: ZNGA) short interest had been dropping, but it grew by 21% to 13.228 million shares short at the end of November. That is still way down from more than 56 million shares short in May.
JON C. OGG