NEW YORK (Real Money) -- You hear it, I hear it: They've written off the social-media plays and have decided that search is a loser and the lowest of the low tech. That's pretty much the whole picture, isn't it?
How can this be? First because that's how it has always been. There comes a time in the Internet love fest when everyone just feels had. That's because the long-term thinkers are running some of these joints, and the short-term shareholders have no patience for long term.
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Take Facebook (FB) . Here's a company that simply has delivered remarkable numbers and it continues to introduce new products, including work collaboration tools, which were introduced this week. Just another way to take advantage of the company's reach. Doesn't matter. People have decided that Facebook's stock has become a loser, a stuck-in-the-mud situation where, at any given moment, they could make some costly acquisition that makes no sense at all.
Google (GOOG) ? Even though it is cheap on an earnings basis, if you look back at the cash, the company's stock is suffering from the perception that Google's stopped caring about it. That last quarterly conference call was regarded with disdain by investors.
Twitter (TWTR) is totally aggravating. It's got a vision, but without someone to execute that vision, it will remain a battleground, with the shorts just weighing on it every minute. I think it is a waiting game, and it's five down and 15 up, which is a pretty good risk/reward, even as the five down seems like it has to come first.