While much of the decline in momentum stocks has been focused on the biotechnology sector, another industry group that has been torched this year is social media stocks.
The Global X Social Media Index Fund (NASDAQ: SOCL) tracks a concentrated group of 27 global companies engaged in social networking, file sharing and other web-based media applications. The fund controls $128 million in total assets and charges an annual expense ratio of 0.65 percent.
Some of the top holdings and household names in SOCL include Facebook (NASDAQ: FB), LinkedIn (NYSE: LNKD) and YelpInc. (NYSE: YELP), which have all declined significantly from their 2014 highs. Since hitting a high on March ...
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