Facebook and other internet stocks under pressure after Snap gloom

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Internet stocks were under pressure in premarket trading on Friday, dragged lower by Snap undefined, after the owner of social media app Snapchat said...

Internet stocks were under pressure in premarket trading on Friday, dragged lower by Snap SNAP, -0.71%, after the owner of social media app Snapchat said privacy changes imposed by Apple were weighing on digital advertising and would hurt the holiday quarter to come.

Shares of Snap fell 20% in premarket trading slumping after results late Thursday. That put the stock on track to open at a three-month low. Other companies that rely on digital ads were under pressure in premarket trading, including Facebook FB, +0.32% down more than 3%, with Etsy ETSY, +1.23%, Shopify, Stitch Fix and Pinterest all off by 1% or more.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Snap Shares Slide as It Blames Apple’s Privacy Changes for Hurting Its Ad BusinessSnap said revenue rose 57% in the latest quarter, but it expects growth to slow due to Apple's privacy changes. Shares were down 27% in after-hours trading.
Source: WSJ - 🏆 98. / 63 Read more »