3 Buzzing Social Media Stocks: Facebook’s Security Steps, Yelp Endures Competitors, Twitter’s Locked Shares
Facebook Inc. (NASDAQ:FB): Facebook is taking steps to ensure privacy in the wake of the massive security breach that compromised tens of millions of Adobe users’ accounts. The company is asking “anyone who used identical login credentials” to change their password immediately. Facebook’s engineers are using publicly posted data to assess the users who are most at risk, and is sending messages to those users who are listed as having the same password for both accounts. Facebook users who are sent the warnings will have to verify account information and then change their password.
Yelp Inc. (NYSE:YELP): Jefferies raised it’s price target on shares of Yelp to $80 from $50 after the company’s third quarter metrics indicated that competition from Google and Facebook wasn’t significant the company’s “cumulative reviews, monthly visitors, active local business accounts respectively rose 42 percent, 41 percent, and 61 percent year-over-year.”
Twitter Inc. (NYSE:TWTR): Twitter’s executives, directors and other owners of large amounts of the company’s shares have agreed not to sell their stock for a minimum of 181 days after the IPO, meaning that many of Twitter’s shares will be gridlocked until May of 2014. The 181-day lockup allows investors to breathe a sigh of relief, as it saves early investors from the pressure of an overabundance of stock. Many analysts believe the secured shares are part of a strategy in response to Facebook’s IPO, which is now often referred to as a textbook example of an IPO “done incorrectly.”