This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

8 Stocks Set to Soar off Facebook's IPO

Stocks in this article: FBRENNQPSAFFNZAGGSKULLNKDYELPZNGA

Renren

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), 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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs