Sector Update: Social Media Stocks Down 1.5%, Slumping More Than Markets

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Social Media stocks ( SOCL ) are down on average 1.5% today versus the broader market which is down around 0.3% ( SPX ) 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 ( LNKD ) down 2%, Yahoo! Inc ( YHOO ) down 1.8%, Sina Corp ( SINA ) 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.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: LNKD , SINA , SOCL , SPX , YHOO

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