2009 Just Called. It Said Buy Digital Ad Stocks.
There's a bloodbath going on in the digital advertising industry.
Industry leaders like Meta Platforms (NASDAQ: META) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) just posted some of their slowest-growth quarters ever. In fact, for the Facebook parent, it was its worst top-line growth on record as revenue fell 4%, though it was up 2% in constant currency.
Those two companies and peers like Snap (NYSE: SNAP) pointed their fingers at the macroeconomic climate. Advertisers are getting cold feet as they hunker down in preparation for a recession. As a result, digital advertising stocks like these three, as well as Pinterest (NYSE: PINS) and Roku (NASDAQ: ROKU), have all fallen sharply over the past year.
Source Fool.com
