As Facebook prepares to go public, anything in the social networking space has seen a monster increase in value. Stocks like Linkedin Corporation (NYSE:LNKD) are jumping today, trading at $76.45, +4.08 (+5.64%). In addition, Chinese social player Renren Inc. (NYSE:RENN) is trading at $5.63, +0.62 (+12.38%). While these stocks have already run higher and are no longer plays, it is interesting to think about other sympathy plays that may run. The key is to look for the extension to the social networking websites, what will the publicity of social media attract.
This morning, Visa Inc (NYSE:V) and MasterCard Inc (NYSE:MA) are surging sharply higher. The catalyst for the rally in these two leading stocks is a strong reaction to the MasterCard earnings announcement. MA stock will have some short term intra-day resistance around the $385.00 level. Visa Inc stock is obviously trading higher in sympathy to the MasterCard earning report. Visa stock is now trading at a new all time high at $106.13 a share.
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