Social Media stocks have provided investors with strong performance in 2016. As of mid-August, the Global X Social Media Index ETF (SOCL) had delivered a year-to-date performance of 18%, easily outperforming the S&P 500 and Nasdaq Composite indexes, which have returned 6.85% and 4.5% respectively. This report will utilize Trendrating’s Smart Momentum analytics to explore momentum within the U.S. listed constituents of SOCL.
“SOCL scorecard” shows the current distribution of momentum among the 18 U.S.-listed stocks in SOCL. As we can see, the vast majority of stocks are in an established bullish trend (“A” rated). These stocks have since delivered an average performance rating of about 32%. The “B” rated stocks have delivered 8% while the only negatively rated stock, Renren SP Ads (RENN), has dropped 43% since its negative rating (see “D for drawdown”). “Debutants” shows the best performing positively rated stocks with the timing of issued rating and subsequent performance.