This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

8 Stocks Set to Soar off Facebook's IPO


Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

One of the top Facebook sympathy plays and probably the purest play is Renren (RENN - Get Report), which is basically the Facebook of China. Its platform enables its users to connect and communicate with each other, share information and user-generated content, play online games, listen to music, shop for deals and more. This stock is off to a monster start so far in 2012, with shares up 76%.

Renren has a market cap of $2.34 billion and an enterprise value of $1.20 billion. This stock trades at a premium valuation, with a trailing price-to-earnings of 42.31. Its estimated growth rate for this year is -233.3%, and for next year it's pegged at 60%. This is an extremely cash-rich company, since the total cash position on its balance sheet is $1.04 billion and its total debt is zero. The total case per share for Renren is $2.64.

>>Top 5 Tech Stocks in a Down Market

This stock is already seeing hot action ahead of the Facebook IPO. On Wednesday, RENN traded up 6.3% to $6.21 on volume of over 13 million shares. That volume was well above its three-month average action of 9,817,950 shares. Shares of RENN also recaptured its 50-day moving average of $5.95 and stayed within its recent uptrending price pattern that's been in place for the last four months.

Market players should continue to look for long-biased traders as long as RENN is trending above its 50-day moving average of $5.95 with strong upside volume flows. I would consider volume that's tracking in close to or above 9.8 million shares as bullish. If RENN heats up off the Facebook IPO, then this stock should easily take out some near-term overhead resistance at $6.81 to $7.87 a share.

Renren also shows up on a list of 10 Stocks to "Like" When Facebook Goes Public.
2 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FB $117.81 -0.21%
LNKD $123.11 -1.15%
RENN $3.05 -1.93%
ZAGG $7.85 0.38%
ZNGA $2.55 10.87%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs