The company had been making progress with direct-response advertising before the pandemic began curbing marketing spend, and now there are big questions about how Snap (SNAP) and its social-media peers will hold up in the coming months. Internet stocks are up broadly in Wednesday’s session, with Pinterest Inc. shares (PINS) up 9.4%, Facebook Inc. shares (FB) ahead 6.5%, Twitter Inc. shares (TWTR) up 5.6%, and Alphabet Inc. shares (GOOG) advancing 4.1%. MoffettNathanson analyst Michael Nathanson called the results “hopeful and frightening at the same time.” Read More...
Snap stock heads for best day in two years but ‘jaw-dropping’ slowdown is warning sign for Facebook and Google
The company had been making progress with direct-response advertising before the pandemic began curbing marketing spend, and now there are big questions about how Snap (SNAP) and its social-media peers will hold up in the coming months. Internet stocks are up broadly in Wednesday’s session, with Pinterest Inc. shares (PINS) up 9.4%, Facebook Inc. shares (FB) ahead 6.5%, Twitter Inc. shares (TWTR) up 5.6%, and Alphabet Inc. shares (GOOG) advancing 4.1%. MoffettNathanson analyst Michael Nathanson called the results “hopeful and frightening at the same time.”
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