Facebook Finds Friday Buyers Among These Sizzling Social Media Stocks
Facebook, Inc. (NASDAQ:FB): Bloomberg reports that NYSE Euronext (NYSE:NYX) and Nasdaq OMX Group (NASDAQ:NDAQ) are currently fighting about a proposed solution to the ruined Facebook IPO, and this places the SEC in the middle of the issue possibly delaying brokers’ compensation. According to NYSE Euronext, the current plan is not fair due to the fact that some of the proposed $40M compensation package will be a discount on trading fees in the future; this could increase Nasdaq’s market share by making competitors suffer. Others, including executives of exchanges Bats Global Markets and Direct Edge Holding LLC, also raised concerns.
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LinkedIn Corporation (NYSE:LNKD): After the site was hacked placing 6.5M of its users’ passwords under compromise, LinkedIn has began working with the Federal Bureau of investigation the company tells the Los Angeles Times.
Yelp, Inc. (NYSE:YELP): Following Monday’s issues, YELP’s shares have risen 9.1% and are currently up 22% for the week. The company has shown progress in increasing its global presence, the rally seems to be perpetuated by technical factors and a squeeze on short who increased interest due to Facebook’s struggle. Also, iPhone’s Siri appears to be a fan of YELP.
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