With the main market on the climb, and 'reasonable' earnings from Facebook (FB), the social media stocks were particularly strong. FB and Twitter (TWTR) closed powerfully higher by 14% and 6% respectively. Near term outlook though is shaky, whilst main market remains <sp'1820.
*the closing black-fail candles on the daily charts do not bode well.
However you want to interpret the FB Q4 results, they certainly weren't terrible. FB is making a profit, and revenue is climbing very strongly.
I myself remain no fan of the social media stocks, they remain wrapped in media hysteria, and the valuations are just plain stupid.
If the main market rolls over again in the coming few days, then both FB and TWTR will likely see most..if not all of the current gains be taken away.