3 Buzzing Social Media Stocks: Facebook’s Back from Black, Zynga’s Upcoming Report, LinkedIn’s Big Break
Facebook Inc. (NASDAQ:FB): Facebook has recovered from its outages earlier on Monday that were due to issues that occurred with network maintenance. Some users were denied the ability to post a status update; others were denied access the site entirely. “Earlier this morning, while performing some network maintenance, we experienced an issue that prevented some users from posting to Facebook for a brief period of time. We resolved the issue quickly, and we are now back to 100 [percent],” the social media site told CNET.
Zynga Inc. (NASDAQ:ZNGA): Upon the release of Zynga’s quarterly results, analysts are expecting that the company will be able beat — or at the very least, meet — the conservative estimates placed on the game studio. Additionally, the dramatic cost-cutting measures the company has implemented will likely continue into 2014, with more layoffs expected. Everything will likely be made clearer on Thursday, when Zynga releases its latest quarterly report.
LinkedIn Corp. (NYSE:LNKD): LinkedIn found that Reid Hoffman recently released the deck of slides he used to secure $10 million in funding in a round that played a crucial role in the company’s success. By playing a weakness (LinkedIn’s relatively modest 900,000-strong subscriber base) as a strength, Hoffman was able to land the significant chunk of venture capital. “Yes, LinkedIn’s 900,000-strong user base paled in comparison to the 10.5 million users on Friendster, the 2.5 million on MySpace, or even the 1.3 million on Orkut,” Wired writes. “But it turned out that LinkedIn had added 800,000 of those 900,000 users in just seven months. More impressive still, the company had promised the investors in its prior venture capital round that it would grow to 400,000 users over the same period.”