By Zacks Investment Research, Minyanville:
Apparently, the minute before the Facebook (FB) IPO was the high-water mark for the broad social media industry, at least so far in 2012. After that horrendous opening session for the social media giant, the bottom appeared to fall out of the space, not just in the networking segment, but in various other social media companies as well.
Firms like Zynga (ZNGA) and Groupon (GRPN) have also succumbed to the panic and are now trading at or near 52 week lows, suggesting a broad level of disinterest in this once investor darling corner of the market. Now, many other IPOs in the segment are also being put on the back-burner, as more companies wait for a more friendly time to debut their shares out to the general public… Read more