Social Media Stocks See Rising Tide in Short Interest
Social media has taken the world by storm, building virtual communities for anyone who has internet access and allowing people to connect and share across the globe. Many of these sites have changed the world in terms of how we meet people, read the news, get jobs and even date. These companies are on the cutting edge of social trends and are a good beacon to look toward for change.
Facebook and Twitter are the main names in this group, with one holding relatively close to its all-time highs while the other looks like it might finally be coming around. Twitter still has been unable to monetize its platform, but considering the stock was up more than 40% in 2017, investors might be less concerned than usual.
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The January 12 short interest data have been compared with the previous report. Short interest in most of these selected social media stocks increased for this settlement date.
Facebook Inc. (FB) had its short interest increase to 25.06 million shares from the previous 23.31 million. Shares were last seen trading at $186.55, within a 52-week range of $129.52 to $190.66.
The number of Twitter Inc. (TWTR) shares short increased to 38.13 million from the previous level of 37.98 million. Shares traded at $22.37, in a 52-week range of $14.12 to $25.85.
Match Group Inc. (MTCH) saw its short interest rise to 23.22 million from the previous level of 22.38 million. Shares were trading at $33.53, in a 52-week range of $15.42 to $34.75.
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Weibo Corp.’s (WB) short interest came in at 5.84 million, compared to the previous level of 5.79 million. Shares were changing hands at $128.58, within a 52-week trading range of $46.05 to $132.72.
Short interest in Yelp Inc. (YELP) increased to 6.92 million shares. The previous reading was 6.34 million. Shares recently traded at $42.50, in a 52-week range of $26.93 to $48.40.
Snap Inc. (SNAP) saw its short interest decrease to 94.58 million, compared to the previous level of 102.78 million. Shares were trading at $14.44, in a post-IPO range of $11.28 to $29.44.
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