Social Media HOT Stocks: Pandora POPS 2.5%, 3 More Companies Move
Facebook, Inc. (NASDAQ:FB) is now being defended by JMP’s Mark Harding, who has given Facebook an Outperform rating and $37 PT. He also reiterates the social network’s potential for monetization. Over the past 20 minutes, shares have spiked after underperforming earlier.
LinkedIn Corporation (NYSE:LNKD): According to a Norwegian IT site, 6.5M passwords have been exposed after a security breach at LinkedIn.
Groupon, Inc. (NASDAQ:GRPN): After the success of Genius Brands International’s Baby Genius branded products on Groupon, the companies have expanded their agreement. Genius Brands, developer and marketer of entertainment products, will uses Groupon to launch Little Genius music CDs for children up to 8 years old. Genius Brands’ promotions on Groupon raised nearly 30M brand impressions as well as selling more than 400,000 Baby Genius CDs and DVDs. The shares traded up $0.72 (7.36%) recently at $10.50.
Pandora Media, Inc. (NYSE:P) has recently posted May’s audience metrics. Numbers for listening hours were 1.1B, up 4% month over month and 87% year over year (April’s growth was also 87%). Radio listening increased from last year’s 3.08% to 5.80%, but it decreased from April’s 5.95%, last years decline from April to May was smaller). By the month’s end, there were 53.3M active listeners, up 3% month over month and up 52% year over year. In other news, Pandora has entered distribution deal with Mazda.
Don’t Miss: GENIUS? Facebook’s Mobile Strategy SHARED.
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