Pinterest, being a major player in the social media sector, often sees its stock price affected by the performance and outlook of other leading companies in the same industry, such as Meta Platforms. The negative reaction to Meta's Q1 results has led to a decrease in investor confidence across the sector, impacting PINS shares.

Snap Inc., similar to Pinterest, is significantly influenced by the financial performance and market sentiment towards other leading companies within the social media industry. The adverse reaction to Meta Platforms' Q1 financial results has negatively affected SNAP shares, as investors reassess the sector's growth prospects.