Facebook shares were trading just above $21 on Monday following the sell-off. The social network company’s stock is down more than 40% from the dismal IPO.
“Facebook is building the foundation to revolutionize online advertising. However, lack of near-term visibility and cloudy advertising metrics may temporarily stall revenue and profit growth,” Morningstar says in an analyst report on the stock.
SOCL, the social media ETF, is up 5.7% year to date.
Global X Social Media Index ETF
