Shares of beaten-down social media companies Snap (NYSE: SNAP) , Twitter (NYSE: TWTR) , and Pinterest (NYSE: PINS) all rose handily this week, up 11.9%, 10.4%, and 8.1%, respectively.
These three stocks had each been under pressure coming into the week, and really, had been beaten-down since their third-quarter earnings reports. However, now with more reasonable valuations and omicron variant fears ebbing somewhat this week, they all rose handily. Additionally, Twitter's new CEO gave his first interviews, and some positive analyst commentary on Snap and Pinterest didn't hurt, either.
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Why Snap, Twitter, and Pinterest All Surged This Week