Why Snap, Facebook, and Pinterest Stocks Plunged Today

·2 min read
Why Snap, Facebook, and Pinterest Stocks Plunged Today

Chaos struck the social-media sector Friday morning, with shares of Pinterest (NYSE: PINS) stock sliding 3.4%, Facebook (NASDAQ: FB) falling 5.5%, and Snap (NYSE: SNAP) collapsing 23% through 10:15 a.m. EDT. You won't be surprised to learn that it's the hardest hit of these three -- Snap -- that's the cause of the collapse. Last night after close of trading, Snap reported its Q3 2021 financial results.