| Facebook's ripple effect: Zynga spikes 17% |
|
|
|
| Thursday, 02 February 2012 15:52 |
Click the chart to track Zynga's stock. NEW YORK (CNNMoney) -- Now that Facebook has finally filed for its much anticipated initial public offering, the enthusiasm for other social media investments has spread like wildfire. Shares of Zynga (ZNGA), which makes games, such as FarmVille, that are played on Facebook, surged 30% from last Friday. That's when investors first got word that Facebook's IPO filing was coming this week. Zynga represented 12% of Facebook's total revenue in 2011, according to the filing. Meanwhile, Groupon's (GRPN) stock has spiked almost 20%, and LinkedIn (LNKD) shares have climbed almost 6%. It's not just individual stocks benefiting on the Facebook frenzy. Trading volume in the Global X Social Media ETF (SOCL), which includes all of the buzzworthy publicly-traded social media platforms, has surged from an average daily volume of about 6,000 shares to more than 120,000 shares on Wednesday and Thursday. That's a nearly 20-fold increase in less than a week and helped propel the ETF's shares more than 10% higher. What's more, assets in the fund more than doubled from $1.4 million to almost $3 million on Wednesday, the day Facebook filed for its IPO. That explosive growth is just the beginning, according to Global X, which launched the ETF in November. "The Social Media ETF got a really slow start, but it has really transformed ever since the news of the Facebook IPO," said Global X CEO Bruno del Ama, who thinks social media rockstar Twitter will follow Facebook's lead with a filing during the first half of this year. While Facebook will eventually become a top holding in Global X's social media fund, it won't happen until five days after the company makes its stock market debut, which could still be months away. The five-day rule allows the parent of the Solactive Social Media Index, which Global X tracks, to vet companies it wants to add. That means investors of the ETF will miss out on Facebook's IPO debut and the stock's early moves, but Global X's del Ama says the rule helps "avoid speculative trading that happens early on, which can play for or against you." In addition to the social media ETF, other funds have also attracted attention thanks to Facebook's IPO filing. Trading volume in the GSV Capital (GSVC) fund, which invests in "high growth" pre-IPO companies and owns 225,000 shares of Facebook, has spiked more than 500% compared with its daily average through Jan. 27. And shares of the Silicon Valley-based fund have surged almost 20% since then. Facebook represents approximately $6.5 million, or 15% of GSV's total portfolio, according to a company statement made last June. The Firsthand Technology Value Fund (SVVC) has also drummed up a lot of interest. Facebook is the fund's largest holding, representing more than 5% of Firsthand's $84 million worth of assets. Trading volume has skyrocketed, and shares of the fund are up more than 50% in the last week. Not every fund with exposure to Facebook before its IPO has been so lucky ... yet. T. Rowe Price has snapped up a $408 million investment in Facebook, which is spread across 19 of its mutual funds, including the T. Rowe's Media & Telecommunications Fund (PRMTX). Similarly, Fidelity has positions in Facebook across more than 30 of its mutual funds, including the Fidelity Contrafund (FCNTX). But the stake of Facebook in each of those funds is relatively small and therefore won't have a great impact on the overall performance of the fund, said Russel Kinnel, director of mutual fund research at Morningstar. -- CNNMoney's Julianne Pepitone contributed to this article. |
Stocks to Watch
Stocks rebound on Europe hopes

Click on chart to track stocksNEW YORK (CNNMoney) -- U.S. stocks bounced back Monday, after closing one of the worst weeks of the year, on renewed optimism...
Administrator 21 May 2012 Hits:2 Finance News
Stocks get an early blue-chip boost

U.S. stocks edged higher at the start of trading Monday on optimism over Europe.NEW YORK (CNNMoney) -- U.S. stocks edged higher Monday, after closing out one of...
Administrator 21 May 2012 Hits:2 Finance News
Facebook stock falls below IPO price

Click chart for more on Facebook's stockNEW YORK (CNNMoney) -- Facebook's stock slid below its offering price in premarket trading Monday, following a lackluster day of trading...
Administrator 21 May 2012 Hits:2 Finance News
Fiscal cliff: Market sting may come soon…

The sky over the Capitol may be clear. But the same can't be said about how Congress will handle the fiscal cliff.NEW YORK (CNNMoney) -- As...
Administrator 21 May 2012 Hits:3 Finance News
How Iran could double its oil output

Many analysts think Iran could double its oil output to nearly 7 million barrels per day. The catch is lifting sanctions.NEW YORK (CNNMoney) -- As Iran continues...
Administrator 21 May 2012 Hits:3 Finance News
What's next for Greece

It's becoming increasingly likely Greece will be forced to drop the euro.NEW YORK (CNNMoney) -- Efforts to keep Greece out of default and in the eurozone grow...
Administrator 21 May 2012 Hits:3 Finance News
JPMorgan Chase loss only going to get wo…

An overall drop in the market is exacerbating JPMorgan's losses tied to its bets on corporate bonds.NEW YORK (CNNMoney) -- One thing seems clear about JPMorgan...
Administrator 20 May 2012 Hits:5 Finance News
Nasdaq 'embarrassed' by Facebook glitche…
NEW YORK (CNNMoney) -- The chief executive of Nasdaq OMX said he was "embarrassed" after technical glitches caused Facebook's widely-anticipated IPO to be delayed Friday, according to several news reports.Issues...
Administrator 20 May 2012 Hits:4 Finance News
Stocks: Storm clouds still gathering ove…

The S&P 500 has tumbled more than 7% in May already, and is on track for its worst monthly performance since May 2010, the month when...
Administrator 20 May 2012 Hits:6 Finance News
Facebook trading sets record IPO volume

Facebook CEO and founder Mark Zuckerberg rang the opening bell remotely, from company headquarters in California.NEW YORK (CNNMoney) -- Facebook's stock market debut finally came and went...
Administrator 18 May 2012 Hits:13 Finance News
Facebook: Many mutual funds already have…

Facebook may only be making its public debut Friday but nearly 70 mutual funds have already snapped up pre-IPO shares on private markets.NEW YORK (CNNMoney) -- Whether...
Administrator 18 May 2012 Hits:12 Finance News
Anti-social: Zynga tumbles after Faceboo…

Click the chart to track shares of Zynga.NEW YORK (CNNMoney) -- Social media stocks just aren't feeling the love, despite Facebook's highly-anticipated stock market debut. Shares of...
Administrator 18 May 2012 Hits:12 Finance News
Stocks: Global fear trumps Facebook debu…

Click on chart to track marketsNEW YORK (CNNMoney) -- U.S. investors resumed focus on the global issues plaguing world markets Friday, following a brief euphoric pop from...
Administrator 18 May 2012 Hits:10 Finance News
Enough on Facebook! Buy Google or Apple
NEW YORK (CNNMoney) -- Facebook is finally trading. And even though the stock didn't explode out of the gate, the company is still worth more than $100 billion. It shouldn't...
Administrator 18 May 2012 Hits:15 Finance News
Facebook: 70 mutual funds already have a…

Facebook may only be making its public debut Friday but nearly 70 mutual funds have already snapped up pre-IPO shares on private markets.NEW YORK (CNNMoney) -- Whether...
Administrator 18 May 2012 Hits:11 Finance News
Facebook IPO trading opens at $42

Facebook founder Mark Zuckerberg rang the opening Nasdaq bell from Facebook's headquarters in California.NEW YORK (CNNMoney) -- Facebook's stock market debut is finally here -- and investors...
Administrator 18 May 2012 Hits:13 Finance News
Stocks: Europe fears vs. Facebook antici…

Click on chart to track marketsNEW YORK (CNNMoney) -- U.S. investors continue to worry about Europe's sovereign debt issues, with stocks opening little changed ahead of Facebook's...
Administrator 18 May 2012 Hits:14 Finance News
Stocks: Europe fears vs. Facebook
NEW YORK (CNNMoney) -- U.S. investors continue to worry about Europe's sovereign debt issues, with stocks opening little changed ahead of Facebook's debut on the Nasdaq.The Dow Jones industrial average...
Administrator 18 May 2012 Hits:14 Finance News
Stocks: Europe fears vs. Facebook
NEW YORK (CNNMoney) -- U.S. investors continue to worry about Europe's sovereign debt issues, with stocks opening little changed ahead of Facebook's debut on the Nasdaq.The Dow Jones industrial average...
Administrator 18 May 2012 Hits:0 Finance News
Pre-Marketing: HP cuts deep

From Cookistry.com * Chainsaw Meg: HP to cut 25,000 jobs * Income inequality: The talk TED won't let you see * Roger Ehrenberg: Is Facebook the next Blackstone? * Economist: Time to prepare for Greece's departure *...
Administrator 18 May 2012 Hits:14 Finance News
Europe fears pressure world markets

NEW YORK (CNNMoney) -- European markets were mixed Friday as investors remained anxious about Spanish and Greek banks, while Asian stocks sold off sharply amid worries of...
Administrator 18 May 2012 Hits:13 Finance News
Stocks: Facebook IPO vs. Europe worries

Click on graphic for more premarket dataNEW YORK (CNNMoney) -- U.S. stocks were poised for a mixed open Friday as investor excitement over the Facebook initial public...
Administrator 18 May 2012 Hits:16 Finance News
Why Facebook won't start trading at the …

Want to buy a share of Facebook? You'll have to wait an hour or so after the opening bell to do it.NEW YORK (CNNMoney) -- The most...
Administrator 17 May 2012 Hits:15 Finance News
Why Facebook won't start trading at the …

Want to buy a share of Facebook? You'll have to wait an hour or so after the opening bell to do it.NEW YORK (CNNMoney) -- The most...
Administrator 17 May 2012 Hits:0 Finance News
Moody's downgrades Spanish banks

The rating agency also downgraded four Spanish regions, two of them to junk.NEW YORK (CNNMoney) -- Rating agency Moody's downgraded 16 Spanish banks on Thursday, the latest...
Administrator 17 May 2012 Hits:13 Finance News
Moody's downgrades Spanish banks

The rating agency also downgraded four Spanish regions, two of them to junk.NEW YORK (CNNMoney) -- Rating agency Moody's downgraded 16 Spanish banks on Thursday, the latest...
Administrator 17 May 2012 Hits:0 Finance News
Flight to safety: 10-year yield at recor…

Click the chart for more bond market data.NEW YORK (CNNMoney) -- Investors fled stocks and made a rush toward the safety of U.S. Treasuries Thursday, sending 10-year...
Administrator 17 May 2012 Hits:12 Finance News
Flight to safety: 10…
Click the chart for more bond market data.NEW YORK (CNNMoney) -- Investors fled stocks and made a rush toward the safety of U.S. Treasuries Thursday, sending 10-year…
Flight to safety: 10…
Click the chart for more bond market data.NEW YORK (CNNMoney) -- Investors fled stocks and made a rush toward the safety of U.S. Treasuries Thursday, sending 10-year…
U.S. slams Chinese s…
Workers assemble solar panels earlier this year on the factory floor of Chinese company Suntech in the eastern Chinese city of Wuxi.NEW YORK (CNNMoney) -- The U.S.…
U.S. slams Chinese s…
Workers assemble solar panels earlier this year on the factory floor of Chinese company Suntech in the eastern Chinese city of Wuxi.NEW YORK (CNNMoney) -- The U.S.…
U.S. slams Chinese s…
Workers assemble solar panels earlier this year on the factory floor of Chinese company Suntech in the eastern Chinese city of Wuxi.NEW YORK (CNNMoney) -- The U.S.…
Obama may tap Strate…
A release of oil from the world's strategic petroleum reserves is still likely despite the recent fall in crude prices as up to 1 million barrels a…
Obama likely to tap …
A release of oil from the world's strategic petroleum reserves is still likely despite the recent fall in crude prices as up to 1 million barrels a…
Facebook IPO: No 'Be…
It may seem like Facebook and CEO Mark Zuckerberg are poised to take over the world. But some investors outside the U.S. say they aren't that excited…
Tech IPOs have a dis…
NEW YORK (CNNMoney) -- There are plenty of reasons to "like" Facebook, but Internet IPOs are better known for their epic flops than wild successes. Of the…







