Tech Takeover: How Social Media Fares on Wall Street
Chinese social media company RenRen became the first social media company to list on NYSE in 2011. At its opening, RenRen shares soared almost 40 percent from $14 to $19.50, raising $740 million. But by 2013, the Chinese “Facebook” had fallen 80 percent since its IPO debut. RenRen is still plummeting with shares at just $3.28, as of closing Nov. 8.