NEW YORK (TheStreet) -- LinkedIn (LNKD) spiked Wednesday after the social networking company made it on JPMorgan's Focus List. Facebook (FB) jumped after a report its video traffic is set to explode. GroupOn (GRPN) climbed higher following the departure of its CFO.
LinkedIn soared 4.2% to close at $213.30.
The social networking giant spiked after JPMorgan placed the company on its "Focus List." In this particular case, LinkedIn was included on the list because of its growth strategy. The analysts cited LinkedIn's potential for improving its net ratio during its fiscal second quarter and it was considered JPMorgan's "most actionable name."
LinkedIn had fallen sharply from its 52-week high of $276.18 in late February to trade around the high $190s. But since May 20, the company has risen 10% from its close of $193.80 on that date.
Facebook jumped 2.5% to end the session at $82.44.
The social media giant got a lift after a report in Fortune noted how Facebook is generating four billion video streams per day, four times the level it did a year ago. According to the report, this transition has come about after Facebook's engineers have "retooled Facebook's interface to make video easier than ever to watch and share."
Not only has Facebook generated explosive growth, but it is also rivaling the video stream figures of Google's (GOOGL) decade old YouTube site, according to a Business Insider report. One feature of Facebook's video is it will automatically start playing silently when users scroll across them, noted Business Insider.
Online sites like Facebook and Google gain a large slug of their revenue from advertising and ads appearing on video are particularly gaining interest from advertisers.