Dernières nouvelles pour Global X Social Media ETF (NASDAQ:SOCL)

Global X Social Media ETF

Communication Services

Technology

Other

Financial Services

Consumer Cyclical

The fund will invest at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts and Global Depositary Receipts based on the securities in the underlying index. The underlying index tracks the equity performance of the largest and most liquid companies involved in the social media industry, including companies that provide social networking, file sharing, and other web-based media applications. The fund is non-diversified.

Tencent Holdings Ltd

Meta Platforms, Inc.

Pinterest Inc. Class A

NAVER CORP

Snap Inc.

Spotify Technology S.A.

Match Group Inc.

Alphabet Inc., Class a

Netease

Pharos Energy PLC

Audio streaming service provider Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) shares are trading higher on Thursday. The company launched the <a target="_blank" href="https://newsroom.spotify.com/2025-01-02/the-spotify-partner-program-is-here-offering-new-ways-for-creators-to-monetize-in-the-us-uk-canada-and-australia/" rel="noreferrer noopener">Spotify Partner Program</a>.
This new monetization initiative is available in the U.S., U.K., Canada, and Australia and aims to help creators expand their audiences and generate sustainable revenue streams.
The program offers creators access to multiple revenue opportunities, including audience-driven payouts from Spotify Premium video engagement and monetization through ads on Spotify Free and other podcast platforms.
The dual revenue model allows creators more control over their earnings while enhancing the listener experience.
Premium users can enjoy an uninterrupted viewing experience with no third-party ads in video podcasts, though creators&#8217; baked-in sponsorships remain in episodes.
Since its announcement on November 13, 2024, over 65% of eligible shows and networks have enrolled in the program.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/12/42634287/spotify-fires-back-at-drake-calls-artificially-inflated-streams-allegation-over-kendrick-lamars-hit-unfounded" rel="noreferrer noopener">Spotify Fires Back At Drake: Calls &#8216;Artificially Inflated Streams&#8217; Allegation Over Kendrick Lamar&#8217;s Hit Unfounded</a>
Spotify continues to invest in video and discovery features to enhance the platform. The introduction of short-form podcast clips, unveiled at the Now Playing event, has led to a 33% increase in converting browsers into engaged listeners.
The company has a global reach of over 640 million users and 250 million subscribers. In November, it reported <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/11/41920955/spotify-stock-climbs-despite-q3-eps-revenue-misses" rel="noreferrer noopener">third-quarter sales</a> of $3.99 billion (versus $3.65 billion a year ago), which missed the analyst consensus estimate of $4.02 billion. EPS of $1.46 missed the analyst consensus estimate of $1.76.
The company reported monthly average user net additions of 14 million. Premium subscribers grew 12% to 252 million.
Investors can gain exposure to Spotify through&nbsp;Global X Social Media ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and First Trust International Equity Opportunities ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FPXI#NASDAQ">FPXI</a>).
Price Action: SPOT shares are trading higher by 1.56% at $454.35 at last check on Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42640352/daniel-ek-spotify-board-members-sell-over-1-billion-in-shares-as-stock-surges-144-in-2024" target="_blank" rel="noreferrer noopener">Daniel Ek, Spotify Board Members Sell Over $1 Billion In Shares As Stock Surges 144% In 2024</a></li>
</ul>
Image via Shutterstock.

Entertainment

Equities

News

General

FPXI

SOCL

SPOT

Spotify Empowers Creators With New Partner Program - What's On The Cards?

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) launched Spotify for Authors, a new set of tools for authors and publishers who distribute their audiobooks <a target="_blank" href="https://newsroom.spotify.com/2024-11-26/audiobook-authors-and-publishers-get-a-new-suite-of-tools-with-the-launch-of-spotify-for-authors/" rel="noreferrer noopener">on its platform.</a>
Much like&nbsp;Spotify for Artists&nbsp;and&nbsp;Spotify for Creators, Spotify for Authors will help writers and publishers track insights and analytics about their audiobooks and catalogs&#8217; consumption on the service and access a set of promotional tools.
For publishers, Spotify for Authors expands on the catalog management and royalty reporting currently offered in Passport.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42191062/manchester-united-q3-earnings-revenue-falls-89-as-broadcasting-takes-a-hit-cost-cuts-stay-on-track-reaffirms-2025-guidance" rel="noreferrer noopener">Manchester United Q1 Earnings: Revenue Falls 8.9% As Broadcasting Takes A Hit, Cost Cuts Stay On Track, Reaffirms 2025 Guidance</a>
It provides insights and analytics to help them better understand their audiences and catalog consumption on Spotify. The platform also provides promotional tools to help publishers enhance their presence on Spotify and expand their listener bases.
For authors invited by publishers, Spotify for Authors offers direct access to industry-leading insights, growth, and promotional tools to help them grow their listeners and catalogs. These include aggregated age and gender demographics, redemption codes to share royalty-free copies of titles with reviewers, superfans, and collaborators, promo cards to generate professional and shareable social assets, and early access to author profiles.
Spotify stock surged 155% year-to-date.
The company reported <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/11/41920955/spotify-stock-climbs-despite-q3-eps-revenue-misses" rel="noreferrer noopener">third-quarter sales</a> of $3.99 billion (versus $3.65 billion a year ago), which missed the analyst consensus estimate of $4.02 billion. EPS of $1.46 missed the analyst consensus estimate of $1.76.
The company reported monthly average user (MAU) net additions of 14 million. Premium subscribers grew 12% to 252 million.
Investors can gain exposure to Spotify through Global X Social Media ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and First Trust International Equity Opportunities ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FPXI#NASDAQ">FPXI</a>).
Price Action: SPOT stock was flat at $481.38 at the last check on Tuesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/42190945/microsoft-service-disruption-hits-outlook-and-teams-thousands-report-issues" target="_blank" rel="noreferrer noopener">Microsoft Service Disruption Hits Outlook And Teams, Thousands Report Issues</a></li>
</ul>
Photo by esthermm on Shutterstock.

Spotify Introduces Marketing Tools For Audiobook Authors

Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) shares are trading lower on premarket Thursday. The company disclosed a strategic partnership with Galaxy Corporation, which represents global musician G-Dragon, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41373915/tencent-music-entertainment-group-inks-strategic-partnership-with-galaxy-corporation" rel="noreferrer noopener">for his upcoming regional tour</a>.
Under this agreement, TME will serve as the exclusive tour partner for G-Dragon&#8217;s concerts in multiple regions, including Southeast Asia, the Middle East, Hong Kong, Macao, Taiwan, Australia, and New Zealand.
This collaboration is expected to enhance the company&#8217;s global presence and strengthen its position in the international music industry.
Notably, TME is expanding its international presence through initiatives like the Global Music Outreach program, promoting Chinese artists globally, and operating the JOOX streaming service in Southeast Asia.
TC Pan, Group Vice President of&nbsp;Tencent&nbsp;Music Entertainment, said, &#8220;Collaborating with a renowned global musician like G-Dragon aligns perfectly with TME&#8217;s vision of connecting international audiences with exceptional music experiences.&#8221;
Yongho Choi, CEO of Galaxy Corporation, stated, &#8220;Building on this strategic partnership, we plan to integrate AI, AR, mixed reality, and robotics into entertainment to create a new kind of concert experience for global audiences.&#8221;
The company will report third-quarter <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">results on November 12, 2024</a>.
Investors can gain exposure to the stock via&nbsp;Litman Gregory Funds Trust Polen Capital China Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCCE#NYSE">PCCE</a>) and Global X Social Media ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>).
Price Action: TME shares are down 1.90% at $11.90 premarket at the last check Thursday.
Photo by Antonio Gravante via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41227136/chinese-stocks-plunge-as-stimulus-hopes-fade-hong-kong-posts-worst-daily-decline-si" target="_blank" rel="noreferrer noopener">Chinese Stocks Plunge As Stimulus Hopes Fade: Hong Kong Posts Worst Daily Decline Since October 2008</a></li>
</ul>

Large Cap

Contracts

Movers

Litman Gregory Funds Trust Polen Capital China Growth ETF

PCCE

What's Going On With Tencent Music Entertainment Shares On Thursday?

Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) shares are trading <a href="https://www.benzinga.com/premarket">higher in premarket today</a>.
The tech company unveiled an upgraded version of its AI model, Ernie 4.0 Turbo, on Friday as part of its strategy to stay competitive in China&#8217;s rapidly evolving AI market. 
The launch follows the release of Ernie 4 in October 2023, which Baidu claimed was on par with OpenAI&#8217;s GPT-4 in terms of capabilities, reported Reuters.
The new model will be available to the public through web and mobile app interfaces. Developers can integrate the technology through Baidu&#8217;s Qianfan AI platform, Wang Haifeng, Baidu&#8217;s Chief Technology Officer, stated at a corporate event. 
Since its launch, Ernie has amassed 300 million users. Baidu also announced enhancements to its PaddlePaddle AI ecosystem, which now supports 14.65 million developers and serves 370,000 businesses and institutions.
Also Read: <a href="https://www.benzinga.com/news/24/06/39502578/openais-china-exit-sets-stage-for-local-ai-surge-with-baidu-alibaba-as-potential-gainers">OpenAI&#8217;s China Exit Sets Stage For Local AI Surge With Baidu, Alibaba As Potential Gainers</a>
OpenAI recently announced it would block access to its API from <a href="https://www.benzinga.com/news/24/06/39476585/chatgpt-maker-openai-to-restrict-access-to-ai-tools-in-china-amid-rising-tensions-report">China and other countries starting July 9</a>. 
This decision is likely to impact many Chinese startups that rely on OpenAI&#8217;s technology. In response, Baidu, Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), and other domestic AI firms have launched initiatives to attract these users by offering free migration services and incentives.
The upgraded Ernie 4.0 Turbo aims to provide users with a powerful AI tool that can rival international counterparts. 
Baidu stock has lost more than 38% in the last 12 months. Investors can gain exposure to the stock via Invesco Golden Dragon China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGJ#NASDAQ">PGJ</a>) and Global X Social Media ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>).
Price Action: BIDU shares are trading higher by 0.42% at $87.40 in premarket at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/05/38939477/despite-us-china-tensions-baidu-boosts-ties-with-apple-and-tesla-for-major-role-in-ai-and-autonomous">Despite US-China Tensions, Baidu Boosts Ties with Apple and Tesla For Major Role in AI and Autonomous Tech</a></li>
</ul>

BABA

BIDU

PowerShares Golden Dragon Halter USX China Portfolio

What's Happening With Baidu's Shares On Friday?

Snap Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) is investing in artificial intelligence and machine learning to enhance Snapchat, CEO Evan Spiegel said, aiming to make the app more engaging.&nbsp;
Recognizing the need to catch up in machine learning, Spiegel has organized senior machine learning experts to strategize on achieving state-of-the-art advancements.&nbsp;
This shift follows years dedicated to revamping Snapchat&#8217;s advertising business, a transformation now beginning to show positive results, Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-19/snap-ceo-evan-spiegel-focused-on-ai-machine-learning-push?sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
Under Spiegel&#8217;s leadership, Snapchat has changed significantly and has adapted to evolving social media usage and advertising demands.&nbsp;
These efforts included focusing on personalized content like artificial reality filters and more targeted software enhancements.&nbsp;
Spiegel managed a significant overhaul of the advertising business as part of these developments, which improved Snapchat&#8217;s revenue streams.
Moreover, Snap is broadening its focus to include building machine learning, AI, and augmented reality features relevant to the advertising sector and user engagement.&nbsp;
Spiegel remains optimistic about Snap&#8217;s direction and its ability to innovate in augmented reality and other areas. His leadership continues to drive Snap toward integrating more advanced technology to enhance user interaction and ad performance, setting the stage for what he believes will be the most impactful period of growth yet.
In April, Snap&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38445632/snap-shares-soar-on-better-than-expected-q1-results-daily-active-user-growth-q2-revenue-guidance" rel="noreferrer noopener">reported&nbsp;quarterly sales</a>&nbsp;of $1.195 billion, up&nbsp;by&nbsp;21% year-on-year,&nbsp;which beat&nbsp;the analyst consensus estimate of $1.12 billion.&nbsp;Snap reported quarterly earnings of $0.03, above the analyst consensus estimate loss of $0.05.&nbsp;
In February, Snap&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/36937266/whats-going-on-with-snapchat-parent-snap-stock-monday" rel="noreferrer noopener">shared plans to</a>&nbsp;reduce its global headcount by approximately 10% of its international full-time employees.
Analysts had flagged Snap&#8217;s potential for long-term growth courtesy of its privacy-focused messaging platform and&nbsp;augmented reality (AR) leadership.&nbsp;
Snap stock gained 66% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;Global X&nbsp;Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and&nbsp;Advisor Managed&nbsp;Portfolios Trenchless Fund ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVER#NYSE">RVER</a>).
Price Actions:&nbsp;SNAP shares traded higher by 1.15% at $16.24&nbsp;at the last check Monday.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Christopher Penler on Shutterstock

Media

RVER

SNAP

Snap Leverages AI To Boost Snapchat's Appeal: CEO Evan Spiegel's Strategy Unveiled

Baidu, Inc&nbsp;(NASDAQ:&nbsp;BIDU) reported a fiscal first-quarter 2024 revenue growth of 1% year-on-year to $4.37 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n38866198/baidu-announces-first-quarter-2024-results" rel="noreferrer noopener">analyst&nbsp;consensus estimate of $4.32 billion</a>.&nbsp;
Baidu's adjusted earnings per ADS&nbsp;of $2.76 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $2.30</a>.
Segments:&nbsp;Baidu's Core revenue increased 4% year over year to $3.30 billion; Online marketing revenue improved 3% year over year to $2.36 billion. Non-online marketing revenue&nbsp;grew 6% year over year to&nbsp;$935 million, driven by the AI Cloud business.&nbsp;
Revenue from&nbsp;IQIYI, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>)&nbsp;decreased 5% year over year to $1.10 billion, beating the analyst consensus estimate of $1.08 billion.&nbsp;
Baidu's SG&amp;A expenses were $745 million. R&amp;D expenses declined 1% Y/Y to $742 million.&nbsp;&nbsp;
Baidu's adjusted EBITDA margin remained firm at 26%, and its Core adjusted EBITDA margin&nbsp;remained steady at 30%.
As of March 31, 2024, Baidu had $26.56 billion in cash and equivalents and generated $579 million in free cash flow.&nbsp;
Robin Li, Co-founder and CEO of Baidu. "As a new era of Gen-AI unfolds in&nbsp;China, foundation models like ERNIE will serve as the underlying infrastructure, infusing various facets of people's lives. We are making our ERNIE family of models increasingly affordable and efficient."
Baidu&nbsp;stock lost 17% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;Invesco Golden&nbsp;Dragon China ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGJ#NASDAQ">PGJ</a>) and&nbsp;Global X&nbsp;Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>).
Price Action: BIDU shares traded higher by 2.03% at $113.00 in the premarket session at the last check Thursday.
Photo via Shutterstock

Earnings

Topics

Baidu's Q1 Earnings: Revenue and EPS Beat, CEO Highlights Gen-AI's Role in Transforming Everyday Life

Daniel Ek, the co-founder of&nbsp;Spotify Technology SA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), has recently sold 650,000 company shares through two transactions, marking a significant increase in stock sales compared to previous years.&nbsp;
The series of sales, valued at about $179 million, represents Ek&#8217;s strategic financial planning despite still holding a 7% stake in Spotify, a significant component of his $4.4 billion net worth.&nbsp;
Spotify&#8217;s stock has risen significantly, increasing by 267% since late 2022, according to&nbsp;Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-29/spotify-ceo-ek-cashes-in-on-streaming-giant-s-267-stock-rebound?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">report</a>.&nbsp;
Ek&#8217;s move aligns with broader trends of tech billionaires like Michael Dell and Jeff Bezos reducing their stakes after substantial share price increases.
Outside his role at Spotify, Ek also diversifies his investments into fields like artificial intelligence, life sciences, and climate technology.&nbsp;He aims to invest around $1 billion in European startups.
In April, Spotify&nbsp;reported&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38414644/spotify-stock-sheds-all-gains-after-q1-earnings-but-analysts-are-impressed-with-the" rel="noreferrer noopener">fiscal first-quarter 2024</a>&nbsp;revenue of $3.95 billion, up 20% year-on-year, above the consensus of&nbsp;$3.85 billion.&nbsp;EPS of $1.05 beat&nbsp;the&nbsp;consensus of $0.70.&nbsp;
Analysts projected accelerated revenue growth in 2024, supported by balanced growth across Premium Subscribers as it benefits from the shift from transaction-based to access-based streaming models.&nbsp;
Analysts expressed confidence in Spotify&#8217;s ability to ramp up revenue growth and significantly improve profitability, maintaining long-term&nbsp;solid pricing power.&nbsp;
Investors can gain exposure to Spotify via&nbsp;Global X Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and&nbsp;ProShares On-Demand ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OND#NYSE">OND</a>).
SPOT price action:&nbsp;Spotify shares traded lower by 1.70% at $284.68 at&nbsp;the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Management

Spotify Co-founder Daniel Ek Cashes Out More Spotify Stock, Shifts Focus to Tech and Climate Startups

Snap Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares are skyrocketing in the<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">&nbsp;premarket session on Friday.</a>
Yesterday, the company&nbsp;reported its first-quarter financial results with quarterly earnings of 3 cents per share,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38445632/snap-shares-soar-on-better-than-expected-q1-results-daily-active-user-growth-q2-revenue-guidance" rel="noreferrer noopener">beating the analyst consensus estimate of a loss of 5 cents per share</a>.
Adjusted EBITDA was&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38443869/snap-inc-announces-first-quarter-2024-financial-results" rel="noreferrer noopener">$46 million, compared to $1 million in the prior year.</a>
While reporting quarterly results, Snap highlighted new tools, including new Creative Templates, the ability to post longer videos, and access to AI-powered AR Lens creation.
The company said it onboarded over 1,500 Snap Stars in the quarter, which has helped generate quarter-over-quarter growth in Story posts, Spotlight posts, and Stories time spent for Snap Stars globally.
Based on these strengths, quarterly sales clocked in at $1.195 billion, which beat the analyst consensus estimate of $1.12 billion by 6.74% and represents a 20.88% increase over sales&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">of $988.608 million from the same period last year.</a>
The company reported 422 million daily active users in the first quarter, an increase of 39 million, or 10%, year-over-year.
Snap sees second-quarter revenues between<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">&nbsp;$1.225 billion and $1.255 billion.&nbsp;</a>
&#8220;As we enter Q2, we anticipate continued growth of our global community, and as a result, our Q2 guidance&nbsp;is built&nbsp;on the assumption that DAU will be approximately 431 million in Q2,&#8221; the company said.&nbsp;
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>,&nbsp;SNAP stock has gained over 15% in the past year.&nbsp;Investors can gain exposure to the stock via&nbsp;Global X Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and&nbsp;Fidelity Disruptive Communications ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDCF#NASDAQ">FDCF</a>).
Price Action: SNAP shares are trading higher by 25.6% at $14.32 premarket at last check Friday.
Photo by Christopher Penler on Shutterstock

Markets

FDCF

Snap Gains Over 25% - What's Going On?

On Tuesday,&nbsp;Spotify Technology SA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>)&nbsp;reported fiscal first-quarter 2024 revenue of $3.95 billion (3.64 billion euros), up 20% year-on-year, beating the consensus of&nbsp;$3.85 billion.&nbsp;EPS of $1.05 (97 cents) beat&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38377741/music-giant-spotifys-q1-surprise-investors-cheer-premium-subscriber-growth-and-profit-bump" rel="noreferrer noopener">the&nbsp;consensus of $0.70</a>. Analysts offered their takes on the stock.
J.P. Morgan&nbsp;analyst Doug Anmuth maintained Spotify with an Overweight and raised the price target from&nbsp;$320&nbsp;to&nbsp;$365.
Spotify is the largest pure-play audio streaming service&nbsp;and is&nbsp;both driving and benefitting from the ongoing secular shift from transaction-based to access-based streaming models, according to the analyst.
Gross margin strength is driven by music &amp; marketplace gains, podcast improvement, other cost of revenue leverage, &amp; advertising, with additional cost efficiencies helping to drive significant operating and net income growth &amp; meaningfully higher FCF in 2024, Anmuth said.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/04/38387229/spotify-demonstrates-robust-financial-health-with-impressive-q1-revenue-margin-improvements" rel="noreferrer noopener">Spotify Demonstrates Robust Financial Health With Impressive Q1 Revenue, Margin Improvements: Analyst</a>
Notably, Spotify remains confident in achieving the medium-term financial targets laid out at its 2022 Investor Day of 30-40% gross margins and 10%+ operating margin, the analyst noted.&nbsp;
He expects revenue growth to accelerate in 2024, supported by more balanced growth across Premium Subscribers. While MAU growth has decelerated, it remains&nbsp;strong&nbsp;at +19% in the first quarter, and Spotify will ramp up S&amp;M spending through the year to support top-of-funnel improvements.&nbsp;
Anmuth projected 2024 net adds of 81 million for MAUs (vs. 113 million in 2023) &amp; 27 million for Premium Subscribers (vs. 31 million in 2023).&nbsp;
As Spotify continues to add more value to its product offering, pricing will become an increasingly important revenue driver, and he expects the introduction of an audiobook tier and basic music/podcast tier across five markets in the second quarter, with a potential 2024 revenue upside from a broader rollout.
Overall, the analyst is confident in the company&#8217;s ability to accelerate revenue growth while meaningfully increasing profitability, and he noted Spotify maintained long-term pricing power.&nbsp;
Anmuth expects second-quarter revenue and EPS of 3.81 billion euros and 1.21 euros, respectively.
Piper Sandler&nbsp;analyst Matt Farrell reiterated Spotify&#8217;s Neutral rating and raised the price target from&nbsp;$300&nbsp;to&nbsp;$320.
Despite softer MAU trends and in-line subscribers, Spotify delivered gross margin well ahead of expectations, showing once again that the profitability dynamics matter most to investors, the analyst said.&nbsp;
Specifically, the&nbsp;gross margin was 120 basis points ahead of expectations on the back of improved music and podcast profitability, while second-quarter operating income guidance of 250 million euros was well ahead of expectations.&nbsp;
He said&nbsp;that&nbsp;the company has course-corrected its marketing spending&nbsp;to&nbsp;better&nbsp;address MAUs&nbsp;moving forward.&nbsp;Finally, Farrell added that the company reiterated its expectation of improving gross&nbsp;margin and operating margin&nbsp;as it moves through 2024.
Farrell expects second-quarter revenue and EPS of 3.80 billion euros and 1.21 euros, respectively.
Goldman Sachs&nbsp;analyst Eric Sheridan maintained Spotify with a Neutral and raised the price target from&nbsp;$277&nbsp;to&nbsp;$317.
While Spotify&#8217;s first-quarter earnings report indicated a more neutral to downward bias to user trajectory (with roughly in-line subscribers but some softness at the&nbsp;top of the funnel), Sheridan noted the positive commentary and first-quarter results around both gross margin and operating margin as&nbsp;key&nbsp;drivers in Spotify&#8217;s outperformance.&nbsp;
In terms of themes, the analyst noted that Spotify management anchored its earnings report and call around a few themes &#8211;&nbsp;all aiming toward compounded advertising revenue growth and improved ad-supported gross margin.&nbsp;
The themes included striking a balance around user opportunity in terms of focusing on high LTV users, a focus on narrowing the price-to-value gap with price increases in 5 markets in second-quarter, continued discipline around driving operational efficiencies with both gross and operating margin guidance for second-quarter coming in above expectations, update on capital allocation priorities to come with new CFO start date in third-quarter and continued focus on scaling its offering around podcast and audiobook opportunities and increasing the scale of its global advertising efforts.&nbsp;
Looking over a long-term horizon, Sheridan noted that Spotify has already proven its industry-leading position in the audio distribution landscape.
Sheridan expects second-quarter revenue and EPS of 3.80 billion euros (prior 3.84 billion euros) and 1.27 euros (prior 1.16 euros).&nbsp;
Spotify&nbsp;stock gained over 114% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Global X Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and&nbsp;ProShares On-Demand ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OND#NYSE">OND</a>).
SPOT price action: Spotify shares traded lower by 7.34% at $281.06 at the last check Wednesday.
Spotify Photo by esthermm on Shutterstock

Analyst Color

Eurozone

Price Target

Reiteration

Analyst Ratings

Trading Ideas

Spotify Stock Sheds All Gains After Q1 Earnings, But Analysts Are Impressed With the Performance

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) reported fiscal first-quarter 2024 revenue growth of 20% year-on-year to $3.95 billion (3.64 billion euros), beating the consensus of $3.85 billion. EPS of $1.05 (97 cents) beat the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus of $0.70</a>.
Premium Revenue grew 20% year over year to 3.25 billion euros, helped by subscriber additions and ARPU <a href="https://newsroom.spotify.com/2024-04-23/spotify-reports-first-quarter-2024-earnings/" target="_blank" rel="noreferrer noopener">increases</a>. 
Total MAUs (Monthly Active Users) rose 19%&nbsp;Y/Y&nbsp;to 615&nbsp;million&nbsp;,&nbsp;which missed its&nbsp;guidance by 3 million.&nbsp;A "moderated marketing activity" led to "more normalized growth" following 2023's record performance,&nbsp;the Variety&nbsp;<a target="_blank" href="https://variety.com/2024/digital/news/spotify-q1-2024-earnings-results-1235979103/" rel="noreferrer noopener">cites</a>&nbsp;Spotify.&nbsp;
The lower-than-expected MAU growth also came amid "organizational change," referring to Spotify's December 2023 layoffs when the company slashed&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/12/36063872/spotifys-bold-move-ceo-announces-drastic-17-workforce-cut" rel="noreferrer noopener">17% of its workforce</a>.
Ad-supported MAUs grew 22% Y/Y to 388 million. Premium Subscribers grew 14% Y/Y to 239 million.&nbsp;
Within Premium, the average revenue per user (ARPU) rose by 5% year over year to 4.55 euros. Ad-supported revenue rose 18% to 389 million euros.
Margins:&nbsp;The gross margin improved by 243 bps to 27.6%, reflecting improved podcast and music profitability.&nbsp;The Premium gross margin was 30.2%, up 155 bps&nbsp;Y/Y, reflecting Marketplace growth.&nbsp;
The ad-supported gross margin was 6.4%, which is up 947 bps Y/Y, reflecting an improvement in podcast and music profitability. Operating income improved to a new quarterly high of 168 million euros with a margin of 4.6%.
Spotify held 4.7 billion euros in cash and equivalents and generated €207 million in free cash flow.
Outlook: Spotify expects second-quarter revenue of 3.8 billion euros (<a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">consensus $3.76 billion</a>) and total MAUs of 631 million. 
Spotify stock gained over 107% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Global X Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and&nbsp;ProShares On-Demand ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OND#NYSE">OND</a>).
Price action:&nbsp;SPOT shares traded higher by 8.27% at $294.75 premarket at the last check Tuesday.
Photo courtesy: Spotify

Guidance

Tech

Music Giant Spotify's Q1 Surprise: Investors Cheer Premium Subscriber Growth And Profit Bump

Social media giant Meta Platforms (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is set to release first-quarter fiscal 2024 results on Apr 24 after market close. 
The stock has jumped 22% over the past three months and has outperformed the industry&#39;s decline of 7.8%. The outperformance might continue as Meta Platforms has a strong chance of beating estimates on earnings and saw a positive earnings revision activity, which is generally a precursor to an earnings beat. 
This has put the focus on ETFs &mdash; Communication Services Select Sector SPDR Fund (ARCA:XLC), Fidelity MSCI Communication Services Index ETF (ARCA:FCOM), Vanguard Communication Services ETF (ARCA:VOX), iShares Global Comm Services ETF (ARCA:IXP) and Global X Social Media Index ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/socl#NASDAQ">SOCL</a>) &mdash; with a substantial allocation to this social media giant.
<h3>Earnings Whispers</h3>
Meta Platforms has an Earnings ESP of +0.62% and a Zacks Rank #2 (Buy). According to our methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they&#39;re reported with our Earnings ESP Filter. 
Meta Platforms saw a positive earnings estimate revision of 5 cents over the past 30 days for the soon-to-be-reported quarter. Analysts increasing estimates right before earnings &mdash; with the most up-to-date information possible &mdash; is a good indicator for the stock. The current Zacks Consensus Estimate for the yet-to-be-reported quarter indicates substantial year-over-year earnings growth of 63.6%. Revenues are expected to increase 26.6%. Meta Platforms delivered an earnings surprise of 19.71%, on average, in the last four quarters. 
The stock belongs to a top-ranked Zacks Industry (top 22%) and has a VGM Score of B. 
Meta Platforms currently has an average brokerage recommendation&nbsp;of 1.28 on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell etc.) made by 46 brokerage firms. The current ABR compares to an ABR of 1.29 a month ago based on 45 recommendations. 
Of the 46 recommendations deriving the current ABR, 40 are Strong Buy and one is Buy. Strong Buy and Buy, respectively, account for 86.96% and 2.17% of all recommendations. A month ago, Strong Buy made up 86.67%, while Buy represented 2.22%. 
Based on short-term price targets offered by 40 analysts, the average price target for Meta Platforms comes to $523.35. The forecasts range from a low of $285.00 to a high of $610.00.
<h3>Projections</h3>
On the last earnings conference call, the world&#39;s largest social media platform guided revenues in the range of $34.5-$37 billion for the first quarter.
<h3>ETFs to Watch</h3>
Communication Services Select Sector SPDR Fund (XLC) 
Communication Services Select Sector SPDR Fund offers exposure to companies from telecommunication services, media, entertainment and interactive media &amp; services and has accumulated $17.5 billion in its asset base. It follows the Communication Services Select Sector Index and holds 22 stocks in its basket, with Meta Platforms occupying the top position at 23% share. About 48.7% of the portfolio is allocated to interactive media &amp; services, while entertainment and media round off the next two. 
Communication Services Select Sector SPDR Fund charges 9 bps in annual fees and trades in an average daily volume of 6 million shares. It has a Zacks ETF Rank #1. 
Fidelity MSCI Communication Services Index ETF (FCOM) 
Fidelity MSCI Communication Services Index ETF follows the MSCI USA IMI Communication Services 25/50 Index. It holds 110 stocks in its basket, with Meta Platforms occupying the top position at 27.8%. 
Fidelity MSCI Communication Services Index ETF has amassed $1 billion in its asset base and trades in an average daily volume of 106,000 shares. It charges 8 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook. 
Vanguard Communication Services ETF (ETF:VOX) 
Vanguard Communication Services ETF also targets the communication sector by tracking the MSCI US Investable Market Communication Services 25/50 Index. Holding 116 stocks in its basket, Meta Platform takes the top spot with a 22.4% share. Interactive media &amp; services is the top sector, accounting for 51% of the portfolio, while movies &amp; entertainment, cable &amp; satellite, and integrated telecommunication services round off the next three. 
Vanguard Communication Services ETF has AUM of $4 billion and trades in a good volume of 148,000 shares a day, on average. It charges 10 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook. 
iShares Global Comm Services ETF (ETF:IXP)&nbsp; 
iShares Global Comm Services ETF provides global exposure to companies in media, entertainment, social media, search engine, video/gaming and telecommunication services by tracking the S&amp;P Global 1200 Communication Services 4.5/22.5/45 Capped Index. It holds 65 stocks in its basket, with Meta Platforms taking the top spot at 21.4% share. Interactive media &amp; services dominates the fund&#39;s return at 54.8%, followed by integrated telecommunication services (16.4%). 
iShares Global Comm Services ETF has amassed $268.3 million in its asset base while trading at an average daily volume of 12,000 shares. The expense ratio is 0.42%. IXP has a Zacks ETF Rank #3 with a Medium risk outlook. 
Global X Social Media Index ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/socl#NASDAQ">SOCL</a>) 
Global X Social Media Index ETF provides investors access to social media companies around the world and has amassed $139.9 million in its asset base. It tracks the Solactive Social Media Total Return Index, holding 45 securities in the basket. Meta Platforms occupies the second position with 10.3% of the assets. 
Global X Social Media Index ETF charges 0.65% in annual fees and sees lower trading volumes of roughly 10,000 shares a day. The fund has a Zacks ETF Rank #3 with a High risk outlook.
<a href="https://www.zacks.com/stock/news/2259362/meta-platforms-etfs-to-buy-ahead-of-q1-earnings?cid=CS-BENZ-FT-etf_news_and_commentary-2259362">To read this article on Zacks.com click here.</a>

ETFs

FCOM

iShares Trust S&P Global Telecommunications Sector Index Fund

Meta Platforms ETFs to Buy Ahead of Q1 Earnings

A high-profile bill that aims to dismantle TikTok's U.S. operations is affecting social media stocks. 
What Happened: At last check on Thursday:
<ul>
<li>Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is up 1.4% </li>
<li>Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), whose app Snapchat presents significant overlap in user base with TikTok, saw its shares rise by 6.1% </li>
<li>Global X Social Media ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) is also up by 1.7%.</li>
</ul>
The bill was already approved by the<a href="https://www.benzinga.com/general/entertainment/24/03/37664282/tiktok-bill-passes-house-vote-influencers-on-edge-chinese-owned-app-used-by-150m-americans"> House of Representatives last month</a>. Since then, it has reportedly been fast-tracked through Congress and lumped into an aid package bill for Ukraine, Israel and Taiwan.
House representatives are scheduled to vote on the package this Saturday. If approved, the legislation would force TikTok's Chinese parent company ByteDance Ltd. to divest and sell its U.S. operations or face a shutdown in U.S. soil, where 170 million people are active users.
Read also: <a href="https://www.benzinga.com//node/38202541">GOP Members Urge Biden To Adopt Cold-War Stance On China: &#8216;Current Approach Will Yield Little Cooperation&#8217;</a>
Why It Matters: The bill has been highly criticized<a href="https://www.benzinga.com/news/24/03/37688964/tiktok-ban-could-take-out-billions-of-dollars-out-of-creators-pockets-and-put-over-300k-american-job"> by influencers and small business owners</a> who depend on the platform to make their living. 
TikTok CEO Shou Zi Chew insists that a ban could erase billions of dollars from the U.S. economy and potentially put 300,000 jobs at risk. 
Zi Chew is also leading an extensive lobbying campaign against the legislation. ByteDance has poured over $8.7 million into lobbying efforts last year alone, according to OpenSecrets.
ByteDance has not explicitly stated its intentions to sell its U.S. assets under any circumstances. 
Recently, China&#8217;s Ministry of Commerce indicated that the Chinese government would intervene in any attempt to divest TikTok, requiring the app to abandon its U.S. user <a href="http://benzinga.com/markets/asia/24/03/37800098/tiktok-ban-china-has-the-power-to-block-sale-gains-leverage-over-washington">base before any sale.</a>
China has the ability to interfere in the company&#8217;s sale, as TikTok's content-recommendation algorithms are within the country's export-control list.
The company has said the bill is "an outright ban of TikTok, no matter how much the authors try to disguise it," arguing it runs against First Amendment rights of free speech.
If the bill is signed, it is likely to face aggressive legal action from ByteDance, possibly reaching the Supreme Court for a final definition.
The updated version of the bill allows the company up to one year to secure a buyer, compared to the previous six-month deadline. Incorporating the legislation into the foreign aid package increases its likelihood of passing in the Democrat-controlled Senate, where its prospects as a stand-alone bill were unclear.
President Joe Biden has previously signaled that he'll sign the bill if it reaches his desk. He has also expressed support for the $95 billion foreign aid funding package set to hit the House floor this week
Conversely, former president Donald Trump, who is facing Biden ahead of November's presidential election,<a href="https://www.benzinga.com/news/24/03/37572294/donald-trump-is-against-tiktok-ban-because-it-would-help-facebook-and-zuckerschmuck-double-their-bus"> has recently said he's against the TikTok bill</a>.
Trump had called for a ban on TikTok during his time in the White House, describing the app as a national security risk, and marking it as liable to hand over user data to the Chinese government.
Trump has revised his stance, now arguing that a ban would simply redirect users to Meta&#8217;s Facebook, which he labels as <a href="https://www.benzinga.com/news/24/03/37594839/enemy-of-the-people-trump-slams-meta-stock-as-tiktok-ban-faces-scrutiny">the &#8220;enemy of the people.&#8221;</a>
Now read: <a href="https://www.benzinga.com//node/38224928">TikTok-Inspired Music Remixes Hit Spotify: A Game Changer for Artists?</a>
Image: Shutterstock

Social Media

Politics

Global

TikTok's Ticking Clock: Meta, Snap Stocks Climb As US Ban Bill Vote Nears

Keybanc&nbsp;analyst Justin Patterson maintained&nbsp;Spotify Technology SA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with an Overweight rating and raised the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/SPOT/analyst-ratings" rel="noreferrer noopener">price target from $300 to $350</a>.
Spotify will report its first-quarter fiscal 2024 results before the market opens on April 23. Patterson refined his estimates and framed vital factors to watch.&nbsp;
The analyst now expects 2024 revenue of €15.4 billion and 2025 revenue of €18.0 billion, which reflects slightly higher ARPU growth. His 2024 operating profit decreases by 20% due to social charges, while 2025 increases by 2% due to higher revenue.&nbsp;
Finally, Patterson introduced 2026 revenue of €20.6 billion and an operating profit of €2.2 billion, which assumes 14% revenue growth, 29.9% gross margin, and 10.5% operating margin.&nbsp;
Due to the higher revenue and profitability forecasts, Patterson raised his price target, implying 3.4x 2025E EV/S and 34.7x 2025E EV/FCF.
For reference, the analyst noted that&nbsp;Netflix Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) saw its EV/S multiple expand by ~50% over five years due to price increases and margin improvement.
For the first quarter, Patterson expects a slight Premium Subscriber beat at 4 million net adds vs. the consensus of 3 million net adds, revenue likely in line at ~€3.6 billion, and a slight upward bias to his and Street&#8217;s gross margin of 26.4%.
For the second quarter, Patterson expects a Premium Subscriber of ~7 million (in line with the Street), revenue in line with the above consensus of €3.77 billion, reflecting slightly better ARPU, and a gross margin of 27%.
Spotify stock gained 130% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Global X Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and&nbsp;ProShares On-Demand ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OND#NYSE">OND</a>).
Price Action: SPOT shares are trading lower by 0.78% to $301.21 on the last check Friday. 
Spotify Photo by esthermm on Shutterstock

NFLX

Spotify's Q1 Outlook: Analyst Anticipates Surge in Subscriber Base and Revenue Per User

Florida is implementing new measures to keep children and teenagers <a href="https://www.benzinga.com/topic/social-media">away from social media</a>.
What Happened: Florida Gov. Ron DeSantis signed a bill Monday that bans the use of social media platforms for children 13 or under. The legislation also requires parental permission for those that are between the ages of 14 and 15.
The bill passed the Florida legislature earlier this month with bipartisan support.
For social media giants like Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), parent company of Instagram and Facebook, as well as Beijing-based TikTok owner Bytedance, it&#8217;s bad news.
Bytedance is already facing massive scrutiny from the federal government under a bill that could <a href="https://www.benzinga.com/markets/asia/24/03/37800098/tiktok-ban-china-has-the-power-to-block-sale-gains-leverage-over-washington">force the company to sell its U.S. operations to a local buyer or face a complete shutdown</a> in the country.
The main argument behind the newly-signed bill is backed by <a href="https://www.benzinga.com/news/23/03/31334429/mark-zuckerberg-under-fire-as-allegations-of-ignoring-social-media-addiction-among-adolescents-surfa">rising levels of anxiety, depression and addiction</a> to social media amongst teenagers, which many commentators have blamed a lack of action by the platforms themselves, and purposely addictive design.
Also Read: <a href="https://www.benzinga.com/general/entertainment/24/03/37543179/tiktoks-licensing-predicament-expiring-music-publishers-deal-amplifies-universal-music-grou?_gl=1&#x2A;jsptz3&#x2A;_ga&#x2A;NDQyMjI0OTU5LjE2Nzc1OTk3MDg.&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxMTM4NDE2OS4yNDIuMS4xNzExMzkxMjUwLjAuMC4w">TikTok&#8217;s Licensing Predicament: Expiring Music Publishers Deal Amplifies Universal Music Group Dispute</a>
The bill did not clarify which companies will be affected by its language. But, it's expected that Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) and X, formerly Twitter, will also be amongst those affected. 
The law would go live on Jan. 1, 2025, unless it's stopped by the courts in a likely challenge from social media lobby groups.
If enacted, the bill would automatically delete all accounts of children below the age of 14. For the platforms to fall under the legislation criteria, they must tick the boxes of having "addictive features." 
This includes infinite scrolling and push alerts, as well as having a user base of at least 10% under the age of 16 spending at least two hours per day on the platform, <a href="https://www.miamiherald.com/news/politics-government/state-politics/article287064320.html">reported</a> The Miami Herald.
"A child in their brain development doesn't have the ability to know that they're being sucked into these addictive technologies and to see the harm and step away from it," said Republican Speaker Paul Renner, who spearheaded the bill, during the signing ceremony on Monday at a Jacksonville school.
The bill came to be after DeSantis vetoed a less washed-down version earlier this month, which aimed to ban all social media use for children under the age of 16.
Why It Matters: Critics of the bill note its farther-reaching consequences. 
To be able to impose age restrictions, Floridians will have to essentially hold an "I.D. for the Internet.&#8221; This forces residents of every age to face identity checks before using any website that the government deems inappropriate.
A court challenge for the bill is widely expected to come from NetChoice, a lobby group composed of Big Tech companies including Meta, TikTok, X (formerly known as Twitter), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), eBay Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), LYFT Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>), PayPal Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) and others.
The group is already locked in battle in a high-profile case in the Supreme Court, which is <a href="https://www.benzinga.com/markets/equities/24/02/37353082/the-supreme-court-is-weighing-whether-the-first-amendment-should-apply-to-meta-youtube-other-soc">trying to decide whether social media companies should be treated like newspapers or like telecoms companies</a>, ultimately affecting how First Amendment free-speech laws are applied to them.
In a public statement, NetChoice Vice President Carl Szabo called the Florida law "unconstitutional" and said it will protect "exactly zero Floridians."
In Szabo's opinion, HB 3 is a bad policy "because of the data collection on Floridians by online services it will in effect require."
While the group is defending the business interest of social media and other Big Tech companies, Szabo's sentiment echoes those who oppose government intervention in online services and would rather see a more free, less-controlled version of the internet.
"HB 3 forces Floridians to hand over sensitive personal information to websites or lose their access to critical information channels. This infringes on Floridians' First Amendment rights to share and access speech online," he said.
It&#8217;s not just Florida 
<a href="https://www.benzinga.com/government/23/04/31808170/tiktok-ban-or-not-kids-in-several-states-wont-be-able-to-use-social-media-without-parental-permissio">Several other states</a>, including Utah and Arkansas have also passed similar legislation. This could negatively affect social media companies and funds investing in them.
Global X Social Media ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) is the largest pure-play social media ETF, but other tech ETFs are heavy on social media companies, and include ​​Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), Fidelity MSCI Communication Services Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FENY#NYSE">FENY</a>) and ProShares Ultra Communication Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTL#NYSE">LTL</a>).
Now read: <a href="https://www.benzinga.com/news/24/03/37908129/facebook-isnt-lame-for-musk-anymore-tesla-rejoins-zuckerbergs-social-media-platform-after-ghosting-i">Facebook Isn&#8217;t Lame For Musk Anymore? Tesla Rejoins Zuckerberg&#8217;s Social Media Platform After Ghosting It For 6 Years</a>
Shutterstock picture.

Sector ETFs

AMZN

EBAY

FENY

LYFT

PYPL

New Florida Law To Ban Social Media For Kids Under 14, Require ID Checks On All Ages—What's At Stake For Meta, Snap And Tech ETFs

Baidu, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) stock is trading higher Monday amid reports of its partnership with&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to supply artificial intelligence (AI) services for the upcoming iPhone 16 and other Apple&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/03/37892837/apple-wants-to-strengthen-presence-in-china-in-talks-with-baidu-over-ai-collaboration" rel="noreferrer noopener">products in China</a>.&nbsp;
The collaboration reportedly extends to the Mac operating system and iOS 18, exclusively for the versions sold within China.&nbsp;
These insights emerged from a Cailian Press report, highlighting Apple&#8217;s deliberations with other Chinese tech giants, including Alibaba, before settling on Baidu for its AI capabilities, the Wall Street Journal&nbsp;<a target="_blank" href="https://www.wsj.com/tech/ai/baidu-shares-rise-on-news-that-apple-will-use-its-ai-services-in-china-products-fede5a4f?mod=tech_lead_story" rel="noreferrer noopener">reports</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37453606/alibaba-and-jd-com-engage-in-aggressive-price-cutting-intensifying-cloud-services-competition" rel="noreferrer noopener">Alibaba and JD.com Engage in Aggressive Price Cutting, Intensifying Cloud Services Competition</a>
This partnership aligns with China&#8217;s regulatory landscape, where AI models must receive approval before public deployment. Baidu&#8217;s Ernie Bot, having secured such approval, stands out among over 40 sanctioned models, underscoring its prominence in AI development.&nbsp;
Industry analysts view this collaboration as a significant endorsement of Baidu&#8217;s AI advancements, positioning it advantageously against competitors in China&#8217;s fiercely contested AI space.&nbsp;
iPhone sales in China faced challenges, even with discounts, as&nbsp;Huawei Technologies&nbsp;captured more market share and was propelled by nationalist support. U.S. sanctions on China have impacted&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), a leading supplier of AI chips to Apple, significantly.&nbsp;
Baidu stock lost over 33% in stock value in last 12 months. Investors can gain exposure to the stock via&nbsp;Invesco Golden Dragon China ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGJ#NASDAQ">PGJ</a>) and&nbsp;Global X Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>).
Price Action:&nbsp;BIDU shares are trading higher by 1.18% at $103.39 premarket on the last check Monday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37558713/whats-going-on-baidu-stock-after-launching-chinas-first-247-robotaxi-service" rel="noreferrer noopener">What&#8217;s Going On Baidu Stock After Launching China&#8217;s First 24/7 Robotaxi Service?</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Baidu Photo by testing on Shutterstock

Government

Regulations

AAPL

NVDA

Why Is Baidu Stock Trading Higher Monday?

Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has announced a significant reduction in the subscription fee for its ad-free Facebook and Instagram services in Europe, lowering the monthly cost to 5.99 euros from the initial 9.99 euros.&nbsp;
This decision, revealed by a senior executive at Meta, aims to address the growing concerns of privacy and antitrust regulators.&nbsp;
The introduction of the no-ads subscription service in Europe last November faced backlash from privacy activists and consumer groups, who criticized the company for making users pay to protect their privacy, Reuters reports.
The subscription model came as a response to the Digital Markets Act (DMA), which limits Meta&#8217;s ability to personalize ads without user consent, impacting its primary source of income.&nbsp;
The company asserts that the new pricing strategy is an attempt to find a middle ground amidst the demands of EU privacy laws and the DMA&#8217;s stipulations.
During a European Commission hearing, Meta lawyer Tim Lamb highlighted the company&#8217;s intention to hasten the adaptation process by reducing the subscription price to 5.99 euros for a single account and offering a further discount for additional accounts at 4 euros each.
Lamb emphasized that this pricing is at the lower end of what is reasonable for the quality of services provided and represents a significant proposal to regulators.
The EU regulator has also&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/02/37010420/meta-takes-legal-stand-challenges-eu-fee-as-it-battles-regulatory-scrutiny" rel="noreferrer noopener">been at loggerheads</a>&nbsp;with the U.S. Big Tech companies over exploiting their influence to thwart smaller rivals and compromising user privacy.
Meta had challenged a supervisory fee set at 0.05% of its annual global net income to support European Union regulators in enforcing the new EU Digital Services Act (DSA). This legislation requires companies like Meta to intensify their content moderation efforts.
The European Commission has designated this charge for 20 prominent online platforms and two major online search engines, including&nbsp;Alphabet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;Google,&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and&nbsp;TikTok, in addition to Meta.
Google and Apple have already succumbed to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37507425/from-search-to-flights-google-tweaks-everything-for-eus-digital-markets-act" rel="noreferrer noopener">the EU&#8217;s demands</a>. Google introduced a new search page layout for European users, offering new browser and search choice screens during setup, and removed Google Flights data from search results pages for European flight-related queries. Apple introduced multiple changes to its&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36805331/apples-alternative-app-store-model-in-the-eu-could-potentially-cost-meta-others-millions-of-dollars" rel="noreferrer noopener">App Store model</a>&nbsp;for the EU.&nbsp;
META stock gained over 147% last year. Investors can gain exposure to the stock via&nbsp;Global X Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and&nbsp;Invesco S&amp;P 500 Momentum ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPMO#NYSE">SPMO</a>).
Price Action:&nbsp;META shares are trading lower by 0.74% at $493.42 on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

GOOG

GOOGL

SPMO

Meta Bows Down to EU Regulations After Apple And Google, Cut Subscription Prices for Ad-Free Facebook and Instagram

Groupon Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPN#NASDAQ">GRPN</a>) reported fourth-quarter fiscal 2023 revenue of $137.7 million, beating the consensus of $136.7 million, and declining by 7% year-on-year.
Adjusted EPS of $0.30 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.12</a>. The stock price climbed after the results, only to give up gains later.
North America revenue decreased 6% Y/Y to $99.9 million, driven by a decline in demand for its Goods&nbsp;<a target="_blank" href="https://investor.groupon.com/financials/quarterly-results/default.aspx" rel="noreferrer noopener">categories</a>.&nbsp;
International revenue fell 10% Y/Y (15% Y/Y FX-neutral basis) to $37.8 million owing to lower demand for the Goods category and an overall decrease in demand.&nbsp;
Global billings decreased by 6.8% Y/Y to $436.3 million on lower Goods and Travel business billings. Global units sold in the quarter were 11.2 million, down 18% Y/Y.
Adjusted EBITDA stood at $26.9 million vs a loss of $(5.3) million a year ago.
Net cash generated in operating activities came in at $54.5 million in the quarter, and cash and cash equivalents stood at $141.6 million as of December 31, 2023.
&#8220;Significant improvement in our North America local and travel categories is a positive indicator that our transformation plan is working. In addition, our improved financial performance and increased liquidity resolves our going concern issue,&#8221; said Dusan Senkypl, Interim CEO of Groupon.
Investors can gain exposure to the stock via Global X E-Commerce ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBIZ#NASDAQ">EBIZ</a>) and Global X Social Media ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>).
<h2 class="wp-block-heading">GRPN Stock Prediction For 2024</h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Groupon have an average 1-year price target of $7.5, representing an expected downside of 59.02%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 1 analysts have bearish recommendations on Groupon, while No analysts have bullish ratings. The street high price target from Goldman Sachs is $7.5, while the street low from Goldman Sachs is $7.5.
Price Action: GRPN shares traded lower by 3.85% at $17.47 premarket on the last check Friday.
Photo by Casimiro PT via Shutterstock

EBIZ

GRPN

Does Groupon's Turnaround In Q4 Signal Recovery and Resolve Concerns?

Spotify Technology SA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) looks to raise&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/36952014/spotify-techs-q4-performance-mau-growth-ad-supported-tier-growth-and-more" rel="noreferrer noopener">its subscription fees</a>&nbsp;in France, directly responding to a new tax targeting music-streaming services, which took effect on January 1.&nbsp;
This tax, amounting to a 1.2% levy, is part of France&#8217;s effort to support the national music sector, with funds directed to the Centre National de la Musique (CNM).&nbsp;
Spotify, alongside other affected services like Deezer,&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Apple Music, and&nbsp;Alphabet Inc&nbsp;(NASDAQ: GOOG() (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google&#8217;s YouTube Music, have been openly critical of this legislation, especially since Spotify leads in the French market, TechCrunch&nbsp;<a target="_blank" href="https://techcrunch.com/2024/03/07/spotify-to-increase-subscription-price-in-france-to-counter-new-music-streaming-tax/" rel="noreferrer noopener">reports</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37165604/meta-vs-apple-new-ad-guidelines-aim-to-bypass-app-store-commissions" rel="noreferrer noopener">Meta vs. Apple: New Ad Guidelines Aim to Bypass App Store Commissions</a>
This decision follows Spotify&#8217;s previous warnings of taking significant actions within France, including withdrawing support from major music festivals.&nbsp;
Despite the similarities between the French tax and legislative developments in Uruguay, where Spotify threatened to withdraw entirely before retracting its decision, the streaming giant has not suggested exiting the French market.&nbsp;
Instead, Spotify has chosen to adjust its pricing strategy to manage the financial impact of the tax.&nbsp;
In February, Spotify reported fourth-quarter revenue of $3.95 billion, up 22.3% year-on-year, below the consensus of $4.06 billion. EPS loss of $(0.39) for the same period compares to a consensus loss of $(0.14).
Analysts projected the company to reach&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36985316/spotify-technology-reports-record-ad-revenues-for-q4-could-the-company-approach-1b-" rel="noreferrer noopener">$1 billion in profits</a>&nbsp;in 2024, backed by MAU and subscription growth, broad price increases, and declining operating expenditure.
Investors can gain exposure to Spotify via&nbsp;Global X Social Media ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOCL#NASDAQ">SOCL</a>) and&nbsp;ProShares On-Demand ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OND#NYSE">OND</a>).
Price action:&nbsp;SPOT shares closed higher by 0.39% at $268.03 on Wednesday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/02/36914209/spotify-inks-multiyear-deal-with-podcast-king-joe-rogan-amid-shifting-strategy" rel="noreferrer noopener">Spotify Inks Multiyear Deal With Podcast King Joe Rogan Amid Shifting Strategy</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Spotify Photo by esthermm via Shutterstock

Spotify Raises Subscription Prices in France Following New Music Tax

X (formerly Twitter) is bringing back political ads and expanding its team&nbsp;ahead of the <a href="https://www.benzinga.com/general/sports-betting/23/08/34047493/2024-election-betting-odds-biden-gains-desantis-drops-ramaswamy-climbs-a-look-at-whos-favo">2024 presidential election</a>.&nbsp;
What To Know: In a new blog <a href="https://blog.twitter.com/en_us/topics/company/2023/supporting-peoples-right-to-accurate-and-safe-political-discourse-on-x">post</a> from&nbsp;the X Safety team, the social platform company said it&#39;s looking to add people to its safety and elections team ahead of the election in order to focus on stopping manipulation, exposing&nbsp;fake accounts and monitoring threats.&nbsp;
<a href="https://www.benzinga.com/topic/twitter-x">X</a>&nbsp;noted that&nbsp;it&#39;s guided by its Civic Integrity Policy during elections, which provides an extra layer of protection around election periods. The company is revising its policy to reflect its updated enforcement policy: Freedom of Speech, Not Reach. X aims to&nbsp;strike a balance between &quot;tackling the most harmful types of content&quot; and &quot;not censoring political debate.&quot;&nbsp;
In order to do so, the company will add<a href="https://www.benzinga.com/news/23/08/33999027/elon-musk-says-criticism-welcome-as-x-launches-community-notes-across-23-european-countries-being-su"> public labels</a> to posts that are flagged for potential violations of its policies and make people aware when reach is restricted.&nbsp;
&quot;Building on our commitment to free expression, we are also going to allow political advertising,&quot; X said in the blog post.&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/08/34094072/elon-musks-x-grants-crypto-wallet-licenses-across-us-what-it-means-for-dogecoin-shiba-inu">Elon Musk&#39;s X Scores Crypto Wallet Licenses Across US</a>
However, paid political ads will have to undergo a screening process to make sure the promoter is eligible and isn&#39;t&nbsp;attempting to&nbsp;promote&nbsp;false or misleading content.&nbsp;X also plans to create a global ad transparency center where everyone can review political ads being circulated.
Meta Platforms&nbsp;Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) also has a transparency center, in which the company provides <a href="https://transparency.fb.com/policies/ad-standards/siep-advertising/siep">similar guidelines</a>. Other social media companies represented in the&nbsp;Global X Social Media ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/socl#NASDAQ">SOCL</a>) have similar policies. Twitter previously banned political ads on the platform in 2019.&nbsp;
&quot;Our work is ongoing. These increased investments in people, policy and product will further ensure our communities have access to open, accurate and safe political discourse on X,&quot; the company said.&nbsp;
Musk acquired Twitter&nbsp;for $44 billion last October and&nbsp;<a href="https://www.benzinga.com/news/23/08/33957424/elon-musks-risky-twitter-rebranding-is-tanking-xs-rank-and-downloads-in-app-store-and-play-store" target="_blank">rebranded the company to X</a>. The social media platform has gone through a number of changes in a little less than a year as it continues to work towards <a href="https://www.benzinga.com/general/movers-shakers/23/08/33980565/with-2-billion-in-assets-under-management-across-57-properties-this-company-targets-an-ess">becoming&nbsp;an &quot;everything app.&quot;</a>
Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/08/34061992/elon-musk-booed-by-crowd-during-surprise-appearance-at-valorant-championship-bring-back-twitter">Elon Musk Booed By Crowd During Surprise Appearance At Valorant Championship: &#39;Bring Back Twitter&#39;</a>
Photo: Shutterstock

Elon Musk's X Revives Political Ads, Rattles 2024 Election Landscape

Keeping personal politics out of the equation and focusing on pure price action, it&#39;s clear Twitter (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/twtr#NYSE">TWTR</a>) has a political problem.
What Happened: Regardless of one&#39;s political proclivities, it can&#39;t be refuted that Twitter is lower by 12.69% over the past week with losses accelerating following the social media company&#39;s <a href="https://www.benzinga.com/news/21/01/19087281/twitter-permanently-bans-president-donald-trump-citing-risk-of-further-incitement-of-violence">permanent ban of President Donald Trump</a>. That decision is sparking concern about the all-important average daily user metric, among other issues.
Good news: Twitter is just one social media stock and while it may be advisable to take a pass on this particular over the near term, there are alternatives for betting on social media equities.
Why It&#39;s Important: Give the Global X Social Media ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/socl#NASDAQ">SOCL</a>) its due. The first dedicated social media exchange-traded fund is higher by 3.08% over the past week and up 5.08% to start 2021 while Twitter, its fifth-largest holding <a href="https://www.globalxetfs.com/funds/socl/">at a weight of 6.59%</a>, is down 13.13% year-to-date.
Said another way, SOCL is proving there&#39;s something to the basket approach to social media names, which could serve investors well as political headwinds abate.
&ldquo;We do not believe the decisions to eliminate President Donald Trump&rsquo;s personal accounts or moderate Trump-related content more aggressively will result in the repeal of or drastic changes to Section 230 of the Communications Decency Act, which offers immunity from liability for Internet content,&rdquo; writes <a href="https://www.morningstar.com/stocks/xnys/twtr/analysis?utm_source=eloqua&amp;utm_medium=email&amp;utm_campaign=newsletter_stockanalystnotes&amp;utm_content=26951">Morningstar analyst Ali Mogharabi.</a>
Mogharabi notes that Google parent Alphabet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>), another SOCL component, will be able to navigate the decision to remove Parlor &ndash; a conservative rival to Twitter &ndash; from its app store.
What&#39;s Next: Integral to the SOCL equation is that not all social media companies are known for intense political debate that leads to unsavory exchanges between users of all political leanings.
SOCL allocates almost 10.30% of its weight to Snap (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>), while Pinterest (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pins#NYSE">PINS</a>) and Spotify (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) combine for nearly 10%. Neither of those companies operate platforms conducive to political savagery and these days, that&#39;s to their and investors&#39; benefit.
&ldquo;We have not made any changes to our projections and fair value estimates for Facebook, Alphabet, Twitter, Snap, or Pinterest,&rdquo; said Mogharabi. &ldquo;We continue to view Twitter, Snap, and Pinterest as overvalued. We recommend waiting for a slight pullback in Alphabet and Facebook before allocating new capital to those names.&rdquo;

Comments

Global X Social Media ETF

Actualités

Dernières nouvelles pour Global X Social Media ETF (NASDAQ:SOCL)

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL