3 Buzzing Social Media Stocks: LinkedIn’s Time-On-Site Slides, Facebook Watches Vevo Float Away, and Zynga’s Rally Continues
LinkedIn Corp. (NYSE:LNKD): U.S. unique visitors to LinkedIn rose 39 percent year-over-year in May to 52.1 million by Comscore estimates. However, average time spent on the site declined slightly to 20.6 minutes, even in the face of the company’s efforts to raise the figure. Time spent is a crucial figure for LinkedIn right now, as it tries to increase its ad revenue by putting sponsored content in its news feeds.
Facebook (NASDAQ:FB): Google (NASDAQ:GOOG) is renewing its contract with Vevo, a top online video platform, in addition to taking a stake in the company, helping to keep Vevo at a safe distance from Facebook, which has also been in talks with the company about investments. Facebook’s drive for new revenue channels and upcoming video ads would make Vevo a sensible investment for the company, but like Waze, Google got there first.
Zynga (NASDAQ:ZNGA): Adding to its new CEO pick, a favorable mention from Jim Cramer on Mad Money has kept Zynga shares rallying. ”Zynga is a buy under CEO Don Mattrick,” Cramer said on his show, adding: “Mattrick’s at the top of his game. Microsoft’s entertainment division is a huge success, and the only reason you don’t know that is that the rest of Microsoft is so darned big that even this stellar business with 40 million subscribers to Xbox games gets lost in the shuffle.”