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RENN Market Currents
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Monday 9:54 AM Facebook (FB -13.2%) tumbles in early trading to $33.20; even after the selloff, the company trades at nearly 23x sales and 75x trailing EPS. Not helping is BTIG's decision to launch coverage at Neutral; in-line with earlier comments, the firm is worried about Facebook's valuation, decelerating growth, and ad monetization issues. Also lower: RENN -8.3%. ZNGA -7.1%. YELP -6.8%. LNKD -6.1%. GRPN -4.8%. SVVC -7.4%. GSVC -10%.
13 Comments[Tech, On the Move]
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Monday 9:10 AM Premarket gainers: CBE +25%. JMBA +12%. RDN +8%. VELT +6%.
Losers: RENN -9%. LOW -6%. [On the Move] - Friday 11:47 AM Facebook's (FB +3%) weaker-than-expected debut is leading to a massive selloff in Facebook-related plays, and (to a lesser extent) Internet stocks in general. ZNGA -13.3%. RENN -9.4%. GSVC -12.4%. SVVC -18.6%. P -6%. GRPN -4.9%. YELP -4.4%. QPSA -5.1%. Facebook is now changing hands at $39.12. [Tech, On the Move]
- Friday 11:18 AM Indications that Facebook (FB) will open in the low-to-mid $40s, below the expectations of some, have contributed to a selloff in the NASDAQ, which is now trading near breakeven. Facebook-related plays are also moving lower. GSVC -3.8%. SVVC -9.3%. ZNGA -2.4%. RENN -7.4%. Trading has been delayed, but is expected to begin in minutes. [Tech, On the Move]
- Friday 9:24 AM Some Internet stocks deemed to be Facebook-related (FB) plays are rallying yet again in premarket trading, as expectations grow for a major post-IPO pop. QPSA +10%. ZNGA +1.7%. RENN +1.3% [Tech, On the Move]
RENN in Focus
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RENN Related Articles
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RENN News
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at MarketWatch.com (Fri, 5:21PM)
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at MarketWatch.com (Fri, 4:49PM)
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at CNBC.com (Fri, 4:00PM)
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at MarketWatch.com (Thu, 6:57PM)
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at CNBC.com (Thu, 4:40PM)
RENN Press Releases and Filings
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PR Newswire (May 14, 2012)
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PR Newswire (May 4, 2012)
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PR Newswire (May 2, 2012)
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PR Newswire (Apr 30, 2012)
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PR Newswire (Apr 11, 2012)
RENN Latest Transcript
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RENN Cramer
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RENN vs. ETF Alternatives
Company Description
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