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Media stocks were tumbling.
Money has been pouring into social media stocks.
I'm not saying that social media stocks represent a bubble (though others are suggesting it).
Clearly, the market had a crush on media stocks last year.
The results have been impressive; media stocks have done exceptionally well during the bull market.
| James B. Stewart discusses Facebook and the backlash against social media stocks.
The broader market indexes, including media stocks more generally, continued to rise through mid-July.
Short sellers, by this theory, helped drive media stocks to abnormally low levels in December.
In August, anxieties about its slowing growth provoked a meltdown in media stocks.
While he remains bullish on technology broadly, he says social media stocks are far from a slam dunk.
Concerns over the profitability of social media stocks shouldn't necessarily steer investors away from the technology sector altogether.
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