The social media sector was down an average of 4% this week as it was negatively impacted by Pandora’s Q3 report (as detailed below) and Q4 concerns for AAPL. There was downward pressure on FB shares despite its potential addition to the NASDAQ 100 index next week, which should promote further institutional purchases through rebalancing. GRPN shares surged on Friday on renewed takeover speculation even though there were no fundamental developments.
