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.
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Source: WSJ - 🏆 98. / 63 Read more »