Media
Short Sellers Run for Cover From Social Media Stocks
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Social 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 its low. Despite being the preferred communication channel for the current U.S. commander-in-chief, Twitter still has been unable to monetize its platform, which has investors growing ever more concerned. However Twitter’s most recent earnings report has restored some faith in the stock. On the other hand, Facebook has been steadily expanding and is taking a sizable piece of the online advertising pie.
The May 31 short interest data have been compared with the previous report. Short interest in most of these selected social media stocks shrank for this settlement date.
Facebook Inc. (NASDAQ: FB) had its short interest decrease to 19.81 million shares from the previous 21.28 million. Shares were last seen trading at $146.65, within a 52-week trading range of $108.23 to $154.73.
The number of Twitter Inc. (NYSE: TWTR) shares short fell to 52.61 million from the previous level of 55.12 million. Shares recently traded at $16.78, in a 52-week range of $14.12 to $25.25.
Match Group Inc. (NASDAQ: MTCH) saw its short interest remain flat at 12.17 million. Shares were trading at $17.55, in a 52-week range of $13.55 to $20.75.
Weibo Corp.’s (NASDAQ: WB) short interest came in at 8.56 million, compared to the previous level of 10.15 million. Shares recently were changing hands at $73.88, within a 52-week trading range of $26.01 to $82.28.
Short interest in Yelp Inc. (NYSE: YELP) decreased to 6.86 million shares. The previous reading was 8.60 million. Shares recently traded at $30.05, in a 52-week range of $25.93 to $43.41.
Snap Inc. (NYSE: SNAP) saw its short interest surge to 65.54 million, compared to the previous level of 39.01 million. Shares were last trading at $17.88, in a post-IPO range of $17.56 to $29.44.
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