Social Media Short Sellers Become More Selective
March 27, 2017 by Chris LangeSocial media has taken the world by storm, building virtual communities for anyone who has internet access and allowing people to connect and share across the globe. Many of these sites have changed the world in terms of how we meet people, read the news, get jobs and even date. These companies are on the cutting edge of social trends and are a good beacon to look toward for change.
Facebook and Twitter are the main names in this group, with one hitting all-time highs while the other is holding near all-time lows. Despite being the preferred communication channel for the new U.S. commander-in-chief, Twitter still has been unable to monetize its platform, which has investors growing ever more concerned. On the other hand, Facebook has been steadily expanding and is taking a sizable piece of the online advertising pie.
The March 15 short interest data have been compared with the previous report. Short interest moves in these selected social media stocks were mixed for this settlement date.
Facebook Inc. (NASDAQ: FB) had its short interest increase to 18.64 million shares from the previous 16.74 million. Shares were last seen at $139.33, within a 52-week trading range of $106.31 to $142.31.
The number of Twitter Inc. (NYSE: TWTR) shares short increased to 65.86 million from the previous level of 60.41 million. Shares recently traded at $14.81, in a 52-week range of $13.73 to $25.25.
In the period, Match Group Inc. (NASDAQ: MTCH) saw its short interest increase to 12.22 million shares from the 11.30 million in the previous period. Shares were trading at $15.90, in a 52-week range of $10.06 to $19.74.
Weibo Corp.’s (NASDAQ: WB) short interest decreased ever so slightly to 10.50 million shares from the previous 10.54 million. Shares were changing hands at $49.41, within a 52-week trading range of $17.73 to $58.79.
Short interest in Yelp Inc. (NYSE: YELP) decreased to 7.18 million shares. The previous reading was 8.25 million. Shares recently traded at $31.83, in a 52-week range of $18.71 to $43.41.
Snap Inc. (NYSE: SNAP) saw its first short interest number come out at 21.06 million. Shares were last trading at $22.89, in a post-IPO trading range of $18.90 to $29.44.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.