Shocking week for social media investors

LinkedIn shares dropped 20 percent, following Twitter, Facebook

Updated Jul 28, 2015

LinkedIn, popular professional social network lost $6 billion of market value on Friday, after the firm downgraded its yearly forecast and reported slowest quarterly growth one day earlier.

On Tuesday, Twitter’s stock fell as much as 24 percent on Tuesday. Company’s market value is sliced off $6 billion.

Even Facebook announced its slowest growth in quarterly revenue. Social media firm’s shares have experienced about five percent fall on Wednesday.

LinkedIn explained its weaker results and cut in profit and revenue forecast with slower revenue growth in its hiring business and a delay in recognizing revenue from, the online education company it agreed to buy last month.

Company’s shares fell to about $200 in early trading. LinkedIn shared had reached their record high $276.17 in late February.

TRTWorld and agencies