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Snap facing more privacy challenges

Authored by TD Markets
21.02.2022
Stock Squawk
0
2 min

US Equities are taking a bit of a breather with Russia and Ukrain tensions remain high, with the Equity market on Pause as today is President day in the United States.

Investors remain fearful as possible interest rates and political unrest remain the talks on wall street over the last month following the continued rise in inflation.

 Yesterday’s Movers:

  • Yandex N.V (YNDX) was down 8.56% as short sellers continue to come into the markets with the Russia conflict
  • Beyond Meat Inc (BYND) was down 6.90% prior to earning announcement due out this week
  • Virgin Galactic Holdings Inc (SPCE) was down 6.77% as Chamath Palipapitiya will step down as chairman of the board.
  • Palantri Technologies Inc (PLTR) was down 6.37% as earnings were a miss

Earnings Due:

StockSymbolAnnouncement dateRelease TimeEPS Estimate
Virgin Galactic Holdings Inc.SPCE22/2/2022Estimated-$0.28
Home Depot Inc.HD22/2/2022Estimated$3.40
Guardant Health IncGH23/2/2022Estimated-$0.89
Vipshop Holdings LtdVIPS23/2/2022Estimated$0.24
eBay IncEBAY23/2/2022Estimated$0.88

Stocks to watch:

Snap Inc (SNAP)

Snap has been in a downward slump since the latter part of October as Apple announced revenue miss due to privacy changes mad by Apple to its iOS.

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Google is limiting Android tracking on smartphones, resulting in more downward pressure on all social media platforms as digital advertising will be affected which are the major revenue sources on social media platforms. The result ccame in as Google stated that it will “limit sharing of user data with third parties and operate without cross-app identifiers, including advertising ID.”

Technically the chart is still setting up for a short, as we got a good retracement back up to the 50 daily moving average, a break and close below the 20 day moving average should still see more downside to $27.60. Snap is currently down 0.82% in the pre-market trading at $37.70.

Authored by TD Markets
21.02.2022
Stock Squawk
0
2 min
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