Online social networking may not be living up to its hype. Is it time to get short?
Although total spending will continue to increase, the rate of growth in social networking appears to be diminishing rapidly. Gene Munster, Managing Director and Senior Research Analyst tells "Fast Money" that Google started the past two conference calls making the point that social networking has yet to result in meaningful revenue because people go to the site to look at the pictures and not to look at the ads.
Interesting, says Karen Finerman, but I don’t think it really moves the needle for News Corp., the owner of MySpace.
I think you should get short anyone who’s looking to get into the social networking game, counters Jeff Macke.
That’s crazy talk, counters Pete Najarian. I think Google will translate this into real money. It’s just a matter of time.
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Trader disclosure: On May 14, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (MSFT), (INTC), (WMT), (EMC), (DIS); Pete Najarian Owns (AAPL), (BKC), (ENER), (TSO), (XLF); Pete Najarian Owns (C) Calls, (MSFT) Calls, (YHOO) Calls; Finerman Owns (GS); Finerman's Firm Owns (JCP), (MSFT), (SUN), (TSO), (VLO), (AEO), (PLCE); Finerman's Firm Owns (YHOO) Puts And Call Spreads; Finerman's Firm Owns (C) And (C) Leaps; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"