3 Buzzing Social Media Stocks: Facebook Buys Mobile Technologies, Zynga’s Short Interest Rises, and Groupon Snags Plumfare App
Facebook (NASDAQ:FB): Facebook has opened its wallet and purchased Mobile Technologies, a developer of iOS and Android voice recognition and text translation apps that cover 25 or more languages. Though the social media site says it will retain support for Mobile’s apps, its ultimate goal is to integrate the startup’s underlying technology into various Facebook apps.
Zynga (NASDAQ:ZNGA): Short interest in the San Francisco-based online social games operator surged about 36 percent to 41.53 million shares during the period. That was the highest number of shares sold short in a year, and it represented about 8 percent of Zynga’s total float. Days to cover was less than two.
Groupon (NASDAQ:GRPN): Groupon has acquired an app called Plumfare, which allows users to seek out good restaurants by taking pictures of their food and gifting them to friends. The company has also acquired a similar app called Glassmap, which helps consumers find deals in real time.
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