META - Better Social Media Stock: Meta Platforms vs. Snap
2024-05-06 09:20:00 ET
Meta Platforms (NASDAQ: META) and Snap (NYSE: SNAP) went in opposite directions after their latest earnings reports. Meta's stock tumbled after the company followed up its first-quarter earnings beat with a light revenue forecast for the second quarter and a commitment to higher spending on its new AI initiatives. Snap saw its stock soar after it posted a strong first-quarter report and stable guidance for the second quarter.
However, Meta's stock remains up 24% for the year while Snap's stock has declined 6%. Meta's stock has also risen about 1,055% since its IPO in 2012, while Snap still trades slightly below its 2017 IPO price of $17. So will Meta continue to outperform Snap after its recent post-earnings plunge? Or is it time to buy Snap instead?
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Better Social Media Stock: Meta Platforms vs. Snap