Yelp Gets SWEET Boost While 4 Social Media Stocks SINK
Yelp, Inc. (NYSE:YELP): News that Apple will launch a Maps app earlier this month included that it will include integrated support for Yelp. The collaboration will mean that users can upload information on Yelp’s service without leaving the iOS application. There is no word whether user reviews and check-ins, which are an integral feature of Yelp’s services, will be included on the Maps app. The shares closed up $0.75 (3.40%) Wednesday at $22.79.
Facebook, Inc. (NASDAQ:FB): The social media giant, Facebook, has released a new native messaging application that will allow users to chat with friends outside of the Facebook website. The company reports that Facebook users will not need to open Facebook in order to exchange messages with friends.
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Groupon, Inc. (NASDAQ:GRPN): In a Gaopeng China venture to join with Tencent Holdings, Groupon plans to partner with another daily deal website in China to form a brand new company. The shares closed down $0.12 (1.17%) Wednesday at $10.13.
Zynga, Inc. (NASDAQ:ZNGA): Potential buyers for social media gaming giant, Zynga, might enjoy strong positions in the social media world, according to Stifel. It is noted that Zynga receives 19% of its revenue from Facebook, which would give buyers like Google and Microsoft a leg up in the social media machine. The firm also notes that online game play is moving away from Facebook and into the mobile realm, which is promising for long-term revenue to build. The shares closed down $0.13 (2.34%) Wednesday at $5.63.
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