Short Sellers Grow More Selective on Social Media Stocks
February 12, 2018 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 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 was up more than 40% in 2017, investors might be less concerned than usual.
The January 31 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 decrease to 22.65 million shares from the previous 25.06 million. Shares were last seen trading at $176.11, within a 52-week range of $132.55 to $195.32.
The number of Twitter Inc. (NYSE: TWTR) shares short increased to 41.57 million from the previous level of 38.13 million. Shares closed at $31.51, in a 52-week trading range of $14.12 to $35.00.
Match Group Inc. (NASDAQ: MTCH) saw its short interest rise to 24.01 million from the previous level of 23.22 million. Shares were trading at $35.71, in a 52-week range of $15.42 to $36.84.
Weibo Corp.’s (NASDAQ: WB) short interest came in at 5.45 million, compared to the previous level of 5.84 million. Shares were changing hands at $115.35, within a 52-week trading range of $47.36 to $136.19.
Short interest in Yelp Inc. (NYSE: YELP) decreased to 6.32 million shares. The previous reading was 6.92 million. Shares recently traded at $38.29, in a 52-week range of $26.93 to $48.40.
Snap Inc. (NYSE: SNAP) saw its short interest increase to 118.38 million, compared to the previous level of 94.58 million. Shares were trading at $18.80, in a post-IPO range of $11.28 to $29.44.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.