Social Media Companies Rise On SNAP

Despite a market down day thus far, social media companies have managed to stay lofty as Snap (SNAP) reports a blowout earnings call that surpassed expectations.

SNAP itself is trading over 30% higher today, but the euphoria here has carried over across the entire online ad-based sector. Pinterest (PINS) and Twitter (TWTR) are both trading over 8% higher and Facebook has been bumped an extra 5%.

Curiously enough, this should bode well for the entire digital ad market and I would expect for champions like Alphabet (GOOGL) and even a more unconventional name like Roku (ROKU) to benefit from this trend.

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