Snap Jumps 7% as Social Media Names Rally; Pinterest Climbs 3%, Meta Holds Flat

Snap is surging while Meta barely moves, and the company carrying an augmented reality eyewear subsidiary into a broad social media rally has given investors nothing in the way of an explanation yet. Social media stocks are rallying, and Snap Inc. (NYSE:SNAP | SNAP Price Prediction) is leading the group. This comes ahead of the next results conference call the company says it will hold on November 4. Snap stock is up 7% to $6.27 in morning trading, the biggest gain among the three advertising-driven names in focus. Meanwhile, Pinterest (NYSE:PINS) stock is up 3% to $21.10, trailing the advance in Snap stock while moving in the same direction. Meta Platforms (NASDAQ:META) stock is down 0.2% to $719.71, holding close to flat while its smaller rivals climb. The Global X Social Media ETF (NASDAQ:SOCL) is up 2%, showing that the buying extends across the category. By comparison, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.3%, a much quieter reading for the broad market. Eyewear Arm Sets Snap Apart From Pinterest and Meta Snap has issued no company announcement that explains the move, and the advance is part of a broad push higher across social media names, with the
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