Social media stock frenzy fizzles

Social-media stocks were supposed to be one big party. The fun ended fast. Investors who six months ago clamored for shares of social-media firms have turned against them with a vengeance, sending Facebook FB -11.70% shares down 12% Friday following its first quarterly earnings report as a public company. Zynga ZNGA -2.83% fell another 3% after plunging 37% Thursday, after posting a quarterly loss and lowering financial targets.

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