Short Interest Against Social Media Players (FB, SVVC, GRPN, LNKD, RENN, SOCL, ZNGA)
The Nasdaq and NYSE short interest for the end of November is out and it shows some serious changes in the social media sector. While Facebook Inc. (NASDAQ: FB) saw a huge drop in the short interest, that was not the case universally. Other social media players saw the short interest rise. We have added color on each.
Facebook Inc. (NASDAQ: FB) saw a massive drop in the short interest, and now the short interest is lower than it has been in all but a few occasions. The November 30 short interest fell to 56.89 million shares, versus 95.3 million shares in mid-November. It was 87.988 million shares before that and 73.38 million shares before that. The final big lock-up passage obviously was the prior draw.
Firsthand Technology Value Fund (NASDAQ: SVVC), an investor in Facebook and other social media efforts, saw a gain to 244,905 shares short at the end of November, versus 227,807 shares short in mid-November. While this is not a high on a nominal basis, this is a high on days to cover at almost 8 days worth of volume now that trading volume is lighter each day.
Groupon Inc. (NASDAQ: GRPN) saw yet another gain, with its short interest rising to 46.2 million from 43.5 million. This is a smaller gain compared to the prior short interest gain of 20%, but the days to cover was flat at 1.58. This new reading is still one of the highest short interest readings of 2012 for the coupon website.
LinkedIn Corp. (NYSE: LNKD) saw its short interest rise to 5.21 million shares short at the end of November, versus 4.44 million shares in mid-November. This is the second highest short interest since mid-May.
Renren Inc. (NYSE: RENN) saw its short interest cut by one-third to 6.32 million shares at the end of November, versus 9.89 million shares in mid-November. This was the lowest short interest of 2012 and only about one-quarter of the peak short interest of more than 24 million shares short in mid-May.
Global X Social Media Index ETF (NASDAQ: SOCL) is light in volume but it is focused on the social media space (more or less). Its November 30 short interest fell to 14,385 shares, versus 16,415 shares in mid-November. This is the highest days to cover, at 3.6 days, going all the way back to July.
Zynga Inc. (NASDAQ: ZNGA) short interest had been dropping, but it grew by 21% to 13.228 million shares short at the end of November. That is still way down from more than 56 million shares short in May.
JON C. OGG
Filed under: 24/7 Wall St. Wire, Active Trader, Internet, Media, Short Interest Tagged: FB, GRPN, LNKD, RENN, SOCL, SVVC, ZNGA