3 Buzzing Social Media Stocks: Twitter Closes Higher, Andreessen Unloads Facebook Stock, Zynga’s Rocky Past
Twitter Inc. (NYSE:TWTR): Shares are slumping after last week’s blowout initial public offering, as analysts issue Neutral and bearish notes on the stock. On Monday, Sterne Agee initiated the microblogger at Neutral; despite a nearly 4 percent dip, Twitter shares have rebounded since early trading and closed up three percent on the day.
Facebook Inc. (NASDAQ:FB): Facebook director Marc Andreessen — a co-founder of Andreessen Horowitz — revealed that his venture capital firm sold roughly a third of its stake in Facebook, amounting to 2.28 million shares, at a price between $49 and $50, according to Securities and Exchange Commission documents filed on Friday. The firm still holds on to 4.57 million Facebook shares; Andreessen Horowitz spokeswoman Margit Wennmachers said on Sunday that while the firm’s investment thesis was successful, it is a big believer in Facebook, which is why the company is holding on to a big portion of the shares, Reuters reports.
Zynga Inc. (NASDAQ:ZNGA): A former developer at Zynga has said that the company was often unsure about its future and used to conduct debates discussing the ambiguous path of the game maker’s business, according to Mohawk Studios founder Soren Johnson, who added that the confusion was present “long before it underwent crisis.”
Don’t Miss: Facebook Director Dumps Shares.