ETFs Suffering From Facebook (SOCL, IPO, FPX, PNQI, FB)

Benzinga.com
0 Comments|April 24, 2014

Shares of Facebook (NASDAQ: FB) traded higher after their earnings report beat the analysts’ expectations for revenue and earnings.

On the surface the earnings appears to be positive and investors pushed the price of the shares to the best level in two weeks before the tides began to turn.

Throughout the session the stock began to fade and turned negative by the early afternoon.

ETFs Falling

The weakness in shares of Facebook has spread to other social media stocks and the Global X Social Media ETF (NYSE: SOCL)was getting hit harder than shares of Facebook.

The top holding in SOCL, making up ...

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