Guessing game: Investors are hoping Facebook will be the exception to the general volatility of social media companies' earnings seasons, but the outcome hinges on its results, expected later today. Photo: Reuters
NEW YORK: Investors in social media shares have zeroed-in on Facebook Inc, piling into stock options to add bullish bets on the company in the days ahead of its July 29 earnings.
Facebook escaped a rout in social media stocks after last quarter's results and its shares are up about 20% this year. The stock and a handful of other winners account for the bulk of the S&P 500's gains this year.
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