Sector Update: Social Media Stocks Off as Barron's Suggests Bubble


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The Global X Social Media Index ( SOCL ) slid into negative territory midday and is now off 0.6%. The cover story on Saturday's Barrons suggests these stocks could be caught in a bubble in an article titled, "Bubble Trouble." Year-to-date the SOCL is up 53%.

Stocks in the social media and/or cloud-related group getting hit the hardest today include Facebook ( FB ), down 4.5% at $46.80 per share following its rejected $3 billion offer for privately-held Snapchat, as well as unfavorable comments from Aspen Institute CEO and Steve Jobs biographer Walter Isaacson.

Other social media or cloud-related companies sinking today include Twitter ( TWTR ) down 5.7%, LinkedIn ( LNKD ) down 2.5%, ( CRM ) down 2% and AOL, Inc ( AOL ) down 1.5%.

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

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This article appears in: Investing , Commodities
More Headlines for: AOL , CRM , FB , LNKD , SOCL

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