Short Sellers Hike Bets in Social Media Stocks
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 holding relatively close to its all-time highs while the other looks like it might finally be coming around. Twitter still has been unable to monetize its platform, but considering the stock is up close to 50% in 2017 investors might be less concerned than usual.
The December 15 short interest data have been compared with the previous report. Short interest in most of these selected social media stocks increased for this settlement date.
Facebook Inc. (NASDAQ: FB) had its short interest increase to 22.12 million shares from the previous 19.59 million. Shares were last seen at $177.62, within a 52-week trading range of $114.77 to $184.25.
The number of Twitter Inc. (NYSE: TWTR) shares short increased to 40.94 million from the previous level of 39.09 million. Shares traded at $24.23, in a 52-week range of $14.12 to $25.56.
Match Group Inc. (NASDAQ: MTCH) saw its short interest rise to 21.23 million from the previous level of 20.89 million. Shares were trading at $31.59, in a 52-week range of $15.42 to $32.87.
Weibo Corp.’s (NASDAQ: WB) short interest came in at 5.94 million, compared to the previous level of 6.77 million. Shares were changing hands at $104.37, within a 52-week trading range of $40.31 to $123.00.
Short interest in Yelp Inc. (NYSE: YELP) increased to 5.62 million shares. The previous reading was 5.09 million. Shares recently traded at $42.30, in a 52-week range of $26.93 to $48.40.
Snap Inc. (NYSE: SNAP) saw its short interest decrease to 110.23 million, compared to the previous level of 124.26 million. Shares were trading at $14.84, in a post-IPO range of $11.28 to $29.44.