ETF of the Day - Social Networking

The Global X Social Networking ETF ($SOCL) is higher by 1.7% in early trading as the major stock indices are near breakeven. The move is driven by news last night that Facebook ($FB) raised its pricing range.

Even though Facebook is not yet publicly traded and now in the ETF, it gave a boost to some of its global competitors such as Renren ($RENN) and Quepasa ($QSPA). Another member of $SOCL that is rallying today is Groupon ($GRPN), which reported better than expected earnings and is up 17% this morning.

Investing in $SOCL is still risky because several of the major holdings have yet to even turn a profit, so be cautious if you choose to proceed.