Facebook (FB) is trading lower, and it took a lot of stocks lower with it early this morning. Most internet related names faced selling pressure it what was a positive tape.
Zynga (ZNGA) was one name that was beaten up pretty well this morning dipping to $6.36 before gaining back about 10% to reach $7. The game maker has seen its stock decline by about 15% since the day prior to the largest tech IPO of the year.
GSV Capital (GSVC) is also feeling the pain, as its stock is down about 9%, but that is up from a 13% loss earlier. GSVC is down 30% over the last five days. GSV Capital traded significantly higher over the last several months as it was a public investment company holding shares of Facebook.
The lack of the IPO pop caused GSV Capital to crater, do you think that stock will continue to drop as majority of the reason investors were buying the stock has evaporated?
Despite the recent run up, are the social media stocks in for a long summer? Which one do you tihnk will face the most pressure?
More From Zacks.com