Why Snap Stock Popped 27% This Morning, and Why It's Good News for Facebook and Pinterest
Snap Inc. (NYSE: SNAP) shares snapped sharply higher Wednesday morning and are up 27.2% as of 10:45 a.m. EDT. What's more, the company's just-released Q1 2020 earnings report appears to be pulling up shares of Snap's social media rivals, as well. In early morning trading, Facebook (NASDAQ: FB) stock is also moving higher -- up 6.4% -- and Pinterest (NYSE: PINS) is rising 9.4%.
What did Snap say about earnings that got investors so excited -- not just about Snap itself, but about social media tech stocks, in general?
Image source: Getty Images.
Source Fool.com
