Social Media Stocks Weather Download Slowdown

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Social media stocks got a big boost last year as people sheltered in place amid the global pandemic. But with life slowly returning to normal, the group is facing its moment of truth. VIP+ media analyst and correspondent heidi_chung explains

Perfection is rarely achieved in movies, but this heaven-sent concert doc hits the sweet spot. Over two days in January 1972, the Queen of Soul, Aretha Franklin — she was 29 at the time — sweeps into the New Temple Missionary Baptist Church in Watts in front of a congregation and testifies to God in song. The blessed thing took nearly half a century to come out because director Sydney Pollack failed to sync the image with the sound.

As a result, the stocks of those companies also shined. Snap and Twitter were the strongest performers, rising a respective 207% and 69% in 2020. Facebook was up 33%, while the S&P 500 gained 16%. Facebook went from 5.4 million U.S. app downloads last March to 3.1 million, Snapchat from 3.2 million to 1.7 million and Twitter from 2.2 million to 1.4 million app downloads one year later.

 

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