Facebook and Groupon Lead Social Media Stocks in Action
Facebook, Inc. (NASDAQ:FB) is back to selling off following some ups and downs yesterday and Capstone Investments starting coverage with a Hold (due to worries regarding its valuation and performance of the social media site’s premium ads). As reported yesterday, Facebook will permit advertisers to purchase premium ads through its site or through third parties. This will probably raise demand, but may lower ad rates.
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Groupon, Inc. (NASDAQ:GRPN) has a credit card reader in tests that would be a competitor to eBay’s (NASDAQ:EBAY) PayPal and the services made available by Square, according to Bloomberg and their sources close to the products. This is aimed at businesses that use Groupon to market their products, and testing is currently being done by a number of San Francisco businesses. Shares of Groupon traded recently at $11.93, up $0.04, or 0.34%.
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