Facebook IPO Sends Tech Stocks Surging

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Facebook IPO Sends Tech Stocks Surging

February 3rd, 2012

FAKE NEWS for the Zionist agenda

Facebook filing for IPO Wednesday did good for more than just the social network. Companies associated — even tangentially — saw their stocks soar in trading Thursday.

As the largest Internet IPO to date, Facebook’s plan to raise $5 billion lured investors to pour money into similar web companies.

Zynga did particularly well on the market Thursday, following a statement in Facebook’s S-1 saying the social game maker generates 12% of the company’s revenue. Zynga rose 16.84% in trading, finishing the day at $12.39 per share.

“We currently generate significant revenue as a result of our relationship with Zynga, and, if we are unable to successfully maintain this relationship, our financial results could be harmed,” read Facebook’s S-1.

Facebook takes a 30% cut of all virtual goods sold through Zynga games such as FarmVille and CityVille, which results in significant profits. Of Facebook’s $3.71 billion in sales in 2011, $445 million was generated by Zynga. While some investors had considered Zynga a risky investment due to its dependent relationship with Facebook, it became clear Wednesday that Facebook too is dependent on Zynga.

Despite no direct business relationship, professional social network LinkedIn saw a 6.37% increase in share values. Renren, often called China’s Facebook, saw shares rise 8.18%. The revenue generated by Facebook, as was detailed in the S-1, likely encouraged investors to buy stock in social networking companies.

Other Internet companies such as Groupon, Netflix and Pandora also saw their shares rise in trading Thursday.

Take a look through the gallery below to see the details of how Internet stocks fared Thursday. Do you think this is a good sign for Internet companies or could we be approaching another dot-com bubble burst? Sound off in the comments.