The shine is off social media stocks, said Scott Thurm in The Wall Street Journal. “Investors who six months ago clamored for shares of social media firms have turned against them with a vengeance.”
Once touted as being worth $100 billion, Facebook is now valued at less than $65 billion and headed lower. With shares of Groupon and Chinese social network Renren also far below their market debuts, investors are “infinitely more skeptical,” said investment consultant Nick Zaharias.
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