Facebook Vows to Rectify Instagram Privacy Concerns and 4 Social Media Stocks to Watch
Facebook, Inc. (NASDAQ:FB): There have continued to be concerns in regards to social networks this week, especially considering the reactions of Instagram users concerning some coming changes as part of a push by Facebook, which purchased Instagram earlier in the year, to make money from the service. On Tuesday evening, the complaints, including angry Twitter posts and images on Instagram protested the changes and prompted action. Kevin Systrom, who is a co-founder of Instagram, wrote a blog post explaining that the company would change the new terms of service to clarify what would happen to users’ pictures, according to The New York Times’ Jenna Wortham. “We’ve heard loud and clear that many users are confused and upset about what the changes mean…I’m writing this today to let you know we’re listening and to commit to you that we will be doing more to answer your questions, fix any mistakes and eliminate the confusion,” Systrom wrote.
Groupon, Inc. (NASDAQ:GRPN): According to Jim Cramer, “This is not a great stock.”
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Pandora Media, Inc. (NYSE:P): The Shareholders Foundation has stated that there is an investigation for investors of Pandora Media Inc shares began regarding possible securities laws violations by Pandora Media Inc, and some of its directors and officers in connection certain financial statements. Pandora Media, Inc. operates as an internet radio company in the United States, and those investors who bought Pandora Media Inc shares, possess particular options and should contact the Shareholders Foundation at mail shareholdersfoundation.com or call +1(858) 779 – 1554.
Zynga, Inc. (NASDAQ:ZNGA) has not seen the best year, and it would not be surprising if Zynga’s Mark Pincus is unable to wait until 2013 rolls around. Recently, the company was included on an annual list of the business world’s lousiest CEOs, and Pincus earned fourth place for worst corporate leader. Brian Dunn was Number 1, who resigned in April from Best Buy, followed by Chesapeake Energy’s Aubrey McClendon, and Avon’s former boss Andrea Jung, who left her post in April.
Yelp, Inc. (NYSE:YELP) shares are now being covered by Morgan Stanley. The firm has been given an Equal Weight rating and $22.00 target price on the stock.