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Benzinga

Business

Randy Elias

Here's Why Facebook, Pinterest And Snap Shares Are Rising Today

SNAP Pinterest NYSE Meta Nasdaq Elon Musk PINS Snap Inc Twitter Inc.

Shares of social media companies including Meta Platforms, Inc. (NASDAQ:FB), Pinterest, Inc. (NYSE:PINS) and Snap Inc. (NYSE:SNAP) are trading higher in sympathy with Twitter, Inc. (NYSE:TWTR) after Elon Musk disclosed a 9.2% stake in the company.

Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk bought 73,486,938 Twitter shares with sole power to vote. The nearly $3 billion purchase reportedly makes Musk the largest Twitter shareholder.

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