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Here's Why Facebook, Pinterest And Snap Shares Are Rising Today

Published 04/04/2022, 16:12
Updated 04/04/2022, 17:12
© Reuters Here's Why Facebook, Pinterest And Snap Shares Are Rising Today
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Shares of social media companies including Meta Platforms, Inc. (NASDAQ: FB), Pinterest, Inc. (NYSE: NYSE:PINS) and Snap Inc . (NYSE: NYSE:SNAP) are trading higher in sympathy with Twitter, Inc. (NYSE: NYSE:TWTR) after Elon Musk disclosed a 9.2% stake in the company.

Tesla, Inc. (NASDAQ: TSLA) CEO Elon Musk bought 73,486,938 Twitter shares with sole power to vote. The nearly $3 billion purchase reportedly makes Musk the largest Twitter shareholder.

Despite the recent strength, stocks continue to be volatile in recent weeks as investors continue to monitor the Russia-Ukraine conflict.

At the time of publication, Meta Platforms was trading about 3.9% higher at $233.66 per share, Snap was trading about 3.7% higher at $38.80 per share and Pinterest was trading about 8.2% higher at $26.85 per share.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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