Shares of social media companies are trading lower in sympathy with Pinterest, which issued weak Q3 revenue guidance.
Portfolio Pulse from Benzinga Newsdesk
Shares of social media companies are trading lower in sympathy with Pinterest, which issued weak Q3 revenue guidance.
July 30, 2024 | 9:19 pm
News sentiment analysis
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NEGATIVE IMPACT
Meta's shares are trading lower in sympathy with Pinterest's weak Q3 revenue guidance.
Meta's stock is affected by the overall negative sentiment in the social media sector due to Pinterest's weak revenue guidance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Pinterest issued weak Q3 revenue guidance, causing its shares to trade lower.
Pinterest's weak Q3 revenue guidance directly impacts its stock price negatively as investors react to the anticipated lower revenues.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Snap's shares are trading lower in sympathy with Pinterest's weak Q3 revenue guidance.
Snap's stock is affected by the overall negative sentiment in the social media sector due to Pinterest's weak revenue guidance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50