Social Media Stocks Rally on Facebook News
NEW YORK (TheStreet) -- Social media stocks rallied late Friday afternoon follows news that Facebook could file for an IPO as early as next week.
Social gaming firm Zynga (ZNGA) jumped 6.8% to $10.16 as business social network LinkedIn (LNKD) rose 6.4% to $76.99.
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Shares of online radio company Pandora (P) soared 8.1% to $13.99, while online real estate site Zillow (Z) climbed 6.6% to $28.33.
Groupon (GRPN) shares, meanwhile, saw a slightly smaller gain of 3.3% to $20.17
Classifieds site Angie's List (ANGI) was the only decliner of the group, with shares falling 1% to $15.43. Facebook's IPO could value the company for as much as $100 billion, according to reports. The offering could be one of the largest IPOs in U.S. history. --Written by Olivia Oran in New York.>To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: tips@thestreet.com.
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