Social media stocks have been garnering attention amongst investors after industry bellwether Facebook reported impressive quarterly results. The Global X Social Media Index ETF (SOCL) has surged approximately 11.5 percent in the past month. Facebook’s impressive jump in mobile advertising revenues has eased concerns of a shift from desktops to mobile devices. Research firm eMarketer projects 2013 mobile ad spending in the U.S. to total $7.65 billion, up from $4.36 billion a year ago, and could potentially reach $27.13 billion by 2017.
Facebook Inc. (NASDAQ: FB) shares traded in the range of $34.01 to $35.63 Monday before settling to close at $35.43, an increase of 4.18 percent. The stock appears to have some support at the $32.75, $29.04 and $28.58 levels. The company reported mobile monthly active users totaled 819 million as of June 30, 2013, an increase of 51 percent when compared to a year ago. Shares of Facebook have gained approximately 33.0 percent year-to-date.
More information on Facebook and access to the free equity report can be found at:
www.WallStreetFundamentals.com/FB
LinkedIn Corp. (NYSE: LNKD) shares traded in the range of $201.07 to $209.39 Monday before settling to close at $203.71, a decrease of 2.31 percent. The stock appears to be facing some resistance at $210.41 with some support at the $201.61 and $185.88 levels. The company is scheduled to release results for the second quarter of 2013 on Thursday, August 1st. Shares of LinkedIn have gained approximately 77.0 percent year-to-date.
More information on LinkedIn and access to the free equity report can be found at:
www.WallStreetFundamentals.com/LNKD
Yelp Inc. (NYSE: YELP) shares traded in the range of $40.31 to $42.15 Monday before settling to close at $42.12, an increase of 0.05 percent. The stock appears to be facing resistance at the $42.23 and $43.94 levels with some support at $41.51. The company is scheduled to release results for the second quarter of 2013 on Wednesday, July 31st. Shares of Yelp have gained approximately 120.0 percent year-to-date.
More information on Yelp and access to the free equity report can be found at:
www.WallStreetFundamentals.com/YELP
Zynga Inc. (NASDAQ: ZNGA) shares traded in the range of $2.99 to $3.11 Monday before settling to close at $3.02, an increase of 0.33 percent. The stock appears to be facing resistance at the $3.02 and $3.08 levels with some support at $2.96. The company reported daily active users totaled 39 million in the second quarter of 2013, a decrease of 45 percent year-over-year. Shares of Zynga have gained approximately 28.0 percent year-to-date.
More information on Zynga and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ZNGA
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