Facebook filed a highly anticipated five billion dollar IPO last night, which has made the entire social media sector boom today. LinkedIn (NYSE: LNKD) is up nearly 6% and Groupon (NASDAQ: GRPN) is trading up almost 7%. As a result, the Global X Social Media Index Fund ETF (NASDAQ: SOCL), in which aforementioned stocks have a significant weight is up 2.5%.
The biggest mover, however, is a social game developer Zynga (NASDAQ: ZNGA). The company's biggest titles, such as FarmVille and Mafia Wars, gather millions of players every week on Facebook's platform. The stock is up 18% today, as Facebook's IPO filing mentioned that 12% of Facebook's revenue comes from Zynga's games