Social Media stocks (
) are down on average 1.5% today versus the broader market which is
down around 0.3% (
) although fighting to come back. Year-to-date the SOCL is up an
impressive 54.8% versus the market's advance of 18.0%.
Better-known social media stocks taking a hit are LinkedIn Corp
) down 2%, Yahoo! Inc (
) down 1.8%, Sina Corp (
) down 1.5%, and Google (GOOG) down 0.67.
In other social media news, some details relating to the much
anticipated Twitter IPO were released last week. The company is
expected to raise $1 billion and list under the symbol "TWTR".
Pricing details were not released although the company stated in
the offering prospectus a fair value of its common shares at $20.62
per share with 620 million shares outstanding as of August. Twitter
has 200 million users worldwide.
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