3 Buzzing Social Media Stocks: Facebook Banks on Instagram, Zynga Puts Its Hopes in Mobile Gambling, and Pandora Slides Further
Facebook (NASDAQ:FB): Facebook’s decision to go with video upload capabilities for Instagram has proven to be a good one to the detriment of Twitter’s Vine app in the download charts. Vine has fallen from No. 2 in the App Store’s top free iPhone app rankings to No. 26 since June 20, when Facebook announced Instagram’s new addition. To make Instagram even stronger, patents filed by Facebook signal the company is developing a system that will automatically analyze a video to identify items such as landmarks, products, and common phrases.
Zynga (NASDAQ:ZNGA): In efforts to further cash in on Internet gambling assets, Zynga is pulling the curtains back on its new real-money gambling apps destined for the U.K., being presented in Spain on Wednesday. The apps are the first to be published under the new strategic partnership with Facebook, and could be a door-opening experience for American casino operators interested in launching their own products if Internet gambling gets a nod of approval in the United States.
Pandora Media (NYSE:P): Disappointing June metrics continue to take their toll on the company, with shares down another 8 percent. Greg Sandoval at The Verge says that the company’s ongoing public relations issues with its agressive pursuit of lower royalty rates (at the detriment of the artists) might also be rubbing salt in the wound.
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