- Has irrational exuberance given way to panic selling? Internet stocks are off again today, as the Street registers disappointment with earnings reports from AOL, Groupon, Zulily, SouFun, 500.com, and King.
- Yahoo (YHOO -6.2%) has fallen below $35 as the Street digests Alibaba's IPO filing. Twitter (TWTR -4.4%), crushed yesterday following its lockup expiration, briefly cracked $30 before rebounding a bit.
- Other decliners: QIHU -8.9%. BITA -7.2%. GOMO -7%. TRLA -5.2%. MELI -4.7%. ANGI -4.6%. Z -4%. YOKU -5.5%. CTRP -5.3%. WUBA -5.3%. JOBS -5.1%. GRUB -4%.
- Internet/social media ETFs: PNQI, SOCL, FDN