Pinterest (NYSE: PINS) and Snap (NYSE: SNAP) burned a lot of investors over the past year as their stocks plummeted from their all-time highs.
Pinterest, which hit an all-time high of $89.90 last February, shed about 70% of its value as investors fretted over its ongoing loss of monthly active users (MAUs) in a post-lockdown market. Snap, which hit a record high of $83.34 last September, stumbled more than 50% as Apple's (NASDAQ: AAPL) privacy changes on iOS temporarily derailed its advertising business.
However, both social media stocks recently rebounded from their 52-week lows after they posted their fourth-quarter earnings reports. Pinterest predicted its sequential loss of MAUs would gradually stabilize, while Snap countered Apple's iOS update by shrewdly tweaking its ad formats.
Source Fool.com