Tech Takeover: How Social Media Fares on Wall Street
Is it worth buying stock in social media?
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Twitter Tweets to the Top - Following Facebook and other social media platforms, Twitter made its IPO, or initial public offering, debut at New York Stock Exchange (NYSE) on Nov. 6. Twenty million shares were sold at $26 a pop and then shares reached more than $50 by the afternoon. BET.com takes a look at some of the top social media IPOs. — Dominique Zonyéé(Photo: AP Photo/Mark Lennihan)
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Twitter - It looks like Facebook may have some competition. Since it was made public on Nov. 6, Twitter rose 73 percent, and hit over $50 within the first 10 minutes of availability, but declined into the forty dollar range. In total, it raked in $1.8 billion at a valuation of $14.2 billion. By Friday, Nov. 8, Twitter shares opened at $40 and rose to $44.90 by closing.(Photo: AP Photo/Richard Drew)
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Facebook - When Facebook went public on May 18, 2012, it had a less-than-stellar debut. The shares barely reached the $38 asking price. However, with steady persistence, Facebook shares had surged 40 percent by January 2013. Twitter’s debut even influenced Facebook’s IPO shares. On Nov. 8, the shares closed above asking price at $47.53. (Photo: Justin Sullivan/Getty Images)
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LinkedIn - LinkedIn, the business networking site, was one of the first American social media websites to debut at NYSE. In 2011, LinkedIn hit Wall Street offering 7.8 million shares between $32 and $35 a share. By the end of closing, the shares more than doubled; rising as much as 171 percent to close at $92.25 per share. Today, investing in LinkedIn stock is profitable. On Friday, Nov. 8, shares closed at $215.15 per share. (Photo: Justin Sullivan/Getty Images)
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Zynga - When the online gaming publisher Zynga went public in 2011, there were no Facebook or Twitter IPOs to compete with. Then Facebook made its NYSE debut and Zynga shares began to fall in the moments before Facebook shares began trading — a standard NASDAQ procedure for any stock that moves 10 percent or more in a five-minute period. Shares were only supposed to be frozen for five minutes, but Zynga shares were frozen for 50 minutes. Zynga continues to do poorly; it closed on Nov. 8 at $3.46.(Photo: Justin Sullivan/Getty Images)
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