Groupon NOW and 4 Scorched Social Media Stocks
Groupon, Inc. (NASDAQ:GRPN) is increasingly going offline, as the deal-of-the-day site installed some multi-touch displays in Chicago. Passersby can get all the local deals on Groupon Now by touching a button. These location-targeted discounts include deals on dining and entertainment. Shares of Groupon closed down $0.28 (2.76%) Thursday at $9.85.
Facebook, Inc. (NASDAQ:FB): Reuters is reporting (crediting a source) that Nasdaq (NASDAQ:NDAQ) will file a plan with the SEC next week elaborating how it will compensate market makers who lost funds during Facebook’s botched offering. This source thinks the outline might put some blame for sustained losses on one or more of the market makers on the firm’s own technical difficulties.
LinkedIn Corporation (NYSE:LNKD), the business-based social networking site staring down a $5M+ lawsuit for a big time security breach earlier this month, might be victorious in the legal battle. But that won’t be cheap, as the legal bills will add up in an “aggressive” defense such as that promised by the company. Shares closed down 2.34% ($2.46) Thursday at $102.37.
Zynga, Inc.‘s (NASDAQ:ZNGA) “Zynga with Friends,” its new cross-platform gaming network, was released at the company’s Zynga Unleashed event this week. The network is geared to supply users with a unified platform that brings together players from all over, including Facebook, iOS, Android and more. The network will be connected thanks to a social network made up of features such as zFriends—a live social streaming chat. It also boasts Zynga’s new multi-player availability across supported games which allows competition among friends. Zynga shares closed down $0.25 (4.44%) Thursday at $5.38.
Yelp, Inc. (NYSE:YELP): In iOS this year, Apple Maps will take over from Google as the default location service. Although the benefits of such an upgrade will be a boon to iOS6 users, Yelp stands to gain here also. Bloomberg confirmed Monday that Yelp is working hard to get new local advertising outlets—a category which made up 70 percent of Yelp’s revenue last year. Shares closed down $0.28 (1.23%) Thursday at $22.39.
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