Tech stocks have been under pressure lately amid increasing regulatory pressure toward social media companies, especially Facebook and Twitter. After surging more than 52 percent in 2017, the Global X Social Media ETF (SOCL) fell more than 5 percent YTD while the S&P gained over 8 percent over the same period. Now the question […]
Tag: Global X Social Media ETF
Social media stocks were under some pressure after Larry Kudlow, Donald Trump’s top economic adviser, said Tuesday the administration is taking a look at whether Google searches should be regulated, hours after Trump complained on Twitter about search results. The Global X Social Media ETF (SOCL) down 0.12 percent to 33.65, bringing its YTD gains down to just over 2 percent while the S&P gained more than 8 percent over the same period. Now the question is whether recent pullback is a pause that refreshes or it’s a beginning of something worse?
One of the noteworthy developments in recent days has been the move in social media stocks. The group was under tremendous selling pressure following Facebook (FB) and Twitter (TWTR) disappointing quarterly results. The Global X Social Media ETF (SOCL) fell 3.7 percent so far this week, bringing its YTD gains down to just 0.2 […]