3 Buzzing Social Media Stocks: Facebook Hits $100 Billion, Pandora Has a Friend at RBC, and LinkedIn’s New Users Come with Caveats
Facebook (NASDAQ:FB): Facebook’s market value hit $100 billion in trading on Monday, putting it in a small, elite group of tech companies to reach that milestone. The company’s share price reached $41.94 per share before backing off a bit as investors expressed confidence in Facebook’s mobile advertising potential. The price is higher than at any point except the day the company went public in May 2012, Time reports, and represents a marked recovery from a disastrous initial public offering that saw the stock drop to $17.73.
Pandora Media (NYSE:P): Though investors have been backing off the company’s shares of late, Mark Mahaney of RBC Capital Markets maintains that the shares are still a good investment. ”We like this stock. We liked it going into the print, so we were wrong in this 11 percent correction,” he said, referring to the pullback in shares. “But we like it here. This is still the leading play off of Internet radio.”
LinkedIn (NYSE:LNKD): LinkedIn has decided to pursue younger, high school-age kids in a bid for growth, although the new strategy poses some new problems of its own. “Allowing users as young as 14 years old adds potentially thorny security and privacy issues,” CBS reports. “So LinkedIn is boosting the degree of protection available, including a way to block specific accounts, a feature the company has been criticized by some users for not previously offering.”