Short interest for Snap gives investors a sense of the degree to which investors are betting on the decline of Snap's stock. Short interest data is updated every two weeks.

Snap Stock (NYSE:SNAP), Short Interest Report

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Snap owns one of the most popular social networking apps, Snapchat, claiming more than 400 million daily active users as of the end of 2023. Snap generates nearly all its revenue from advertising. While only about one quarter of users are in North America, the region accounts for about 65% of sales.

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Snap announced that it intends to offer a $650 million aggregate principal amount of convertible senior notes due 2030 in a private placement to qualified institutional buyers. Snap also intends to grant the initial purchasers of the notes an option to purchase up to an additional $100 million aggregate principal amount of notes.

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Snap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares are trading lower Thursday after the company announced the pricing of a private offering of $650 million of <a href="https://www.benzinga.com/pressreleases/24/05/b38696384/snap-announces-proposed-private-offering-of-650-million-of-convertible-senior-notes-due-2030">convertible senior notes due 2030.</a>
The Details:
Snap announced that it intends to offer a $650 million aggregate principal amount of convertible senior notes due 2030 in a private placement to qualified institutional buyers. Snap also intends to grant the initial purchasers of the notes an option to purchase up to an additional $100 million aggregate principal amount of notes.
The notes will have an initial <a href="https://www.benzinga.com/pressreleases/24/05/b38722550/snap-announces-pricing-of-650-million-convertible-senior-notes-offering-due-2030">conversion rate</a> of 45.0846 shares of Snap Class A common stock per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $22.18 per share. The initial conversion price represents a premium of approximately 32.5% to the $16.74 per share closing price of Snap stock on May 8.&nbsp;
Snap estimates that the net proceeds from the offering will be approximately $641.6 million, or approximately $740.4 million if the initial purchasers exercise their option to purchase additional notes in full.&nbsp;
Snap said it intends to use approximately $159.4 million of the net proceeds to repurchase approximately $147.9 million aggregate principal amount of its outstanding convertible senior notes due 2025, approximately $259.5 million to repurchase approximately $237.5 million aggregate principal amount of its outstanding convertible senior notes due 2026, and the remaining net proceeds from the offering for general corporate purposes.
Related News: <a href="https://www.benzinga.com/news/earnings/24/05/38717976/whats-going-on-with-affirm-stock-after-earnings">What's Going On With Affirm Stock After Earnings?&nbsp;</a>
<h2 class="wp-block-heading">Should I Sell My SNAP Stock? </h2>
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Snap have increased by 87.89% in the past year. An investor who bought shares of Snap at the beginning of the year would make a profit of $0.3 per share if they sold it today. The stock has risen 51.1% over the past month, meaning an investor who bought shares on April 1 would see a capital gain of $5.36.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Snap stock currently has an RSI of 85.06, indicating overbought conditions.
For access to advanced charting and analysis tools and stock data, check out <a href="https://pro.benzinga.com/">Benzinga PRO. Try it for free.</a> 
SNAP Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Snap shares are down 1.73% at $16.45 at the time of publication Thursday.
Image: Shutterstock

What's Going On With Snap Stock?

Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) announced today the pricing of&nbsp;$650 million&nbsp;aggregate principal amount of&nbsp;0.50%&nbsp;convertible senior notes due 2030 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, or the Securities Act. Snap also granted the initial purchasers of the notes an option to purchase up to an additional&nbsp;$100 million&nbsp;aggregate principal amount of notes. The sale of the notes is expected to close on May 13, 2024, subject to customary closing conditions.
The notes will be general unsecured obligations of Snap, and interest of&nbsp;0.50%&nbsp;per year will be payable semiannually in arrears on May 1 and November 1 of each year, beginning on November 1, 2024.

Offerings

Snap Announces Pricing of $650M Convertible Senior Notes Offering Due 2030

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Communication Services sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>META</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$475.00</td>
<td>$31.8K</td>
<td>3.4K</td>
<td>27.0K</td>
</tr>
<tr>
<td>CHTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$290.00</td>
<td>$36.0K</td>
<td>699</td>
<td>1.6K</td>
</tr>
<tr>
<td>SNAP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$17.00</td>
<td>$94.5K</td>
<td>3.2K</td>
<td>1.4K</td>
</tr>
<tr>
<td>CDLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$12.50</td>
<td>$59.7K</td>
<td>658</td>
<td>219</td>
</tr>
<tr>
<td>DJT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$60.00</td>
<td>$33.3K</td>
<td>891</td>
<td>161</td>
</tr>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$17.00</td>
<td>$42.5K</td>
<td>1.3K</td>
<td>100</td>
</tr>
<tr>
<td>RBLX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/14/24</td>
<td>$50.00</td>
<td>$26.3K</td>
<td>12</td>
<td>66</td>
</tr>
<tr>
<td>GOOGL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$210.00</td>
<td>$58.6K</td>
<td>0</td>
<td>54</td>
</tr>
<tr>
<td>TRIP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$23.00</td>
<td>$46.2K</td>
<td>401</td>
<td>46</td>
</tr>
<tr>
<td>GOOG</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$155.00</td>
<td>$68.8K</td>
<td>3.6K</td>
<td>34</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding META (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), we observe a call option trade with bullish sentiment. It expires in 2 day(s) on May 10, 2024. Parties traded 100 contract(s) at a $475.00 strike. The total cost received by the writing party (or parties) was $31.8K, with a price of $318.0 per contract. There were 3431 open contracts at this strike prior to today, and today 27060 contract(s) were bought and sold. 
• Regarding CHTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), we observe a call option sweep with bearish sentiment. It expires in 9 day(s) on May 17, 2024. Parties traded 88 contract(s) at a $290.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $36.0K, with a price of $410.0 per contract. There were 699 open contracts at this strike prior to today, and today 1647 contract(s) were bought and sold. 
• For SNAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), we notice a put option trade that happens to be bearish, expiring in 100 day(s) on August 16, 2024. This event was a transfer of 428 contract(s) at a $17.00 strike. The total cost received by the writing party (or parties) was $94.5K, with a price of $221.0 per contract. There were 3227 open contracts at this strike prior to today, and today 1404 contract(s) were bought and sold. 
• Regarding CDLX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDLX#NASDAQ">CDLX</a>), we observe a call option trade with bearish sentiment. It expires in 9 day(s) on May 17, 2024. Parties traded 199 contract(s) at a $12.50 strike. The total cost received by the writing party (or parties) was $59.7K, with a price of $300.0 per contract. There were 658 open contracts at this strike prior to today, and today 219 contract(s) were bought and sold. 
• For DJT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), we notice a put option trade that happens to be bullish, expiring in 44 day(s) on June 21, 2024. This event was a transfer of 12 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $33.3K, with a price of $2780.0 per contract. There were 891 open contracts at this strike prior to today, and today 161 contract(s) were bought and sold. 
• For BILI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>), we notice a call option trade that happens to be bearish, expiring in 618 day(s) on January 16, 2026. This event was a transfer of 100 contract(s) at a $17.00 strike. The total cost received by the writing party (or parties) was $42.5K, with a price of $425.0 per contract. There were 1336 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• For RBLX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), we notice a call option sweep that happens to be bearish, expiring in 37 day(s) on June 14, 2024. This event was a transfer of 500 contract(s) at a $50.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.3K, with a price of $53.0 per contract. There were 12 open contracts at this strike prior to today, and today 66 contract(s) were bought and sold. 
• For GOOGL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), we notice a put option sweep that happens to be bearish, expiring in 317 day(s) on March 21, 2025. This event was a transfer of 14 contract(s) at a $210.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $58.6K, with a price of $4190.0 per contract. There were 0 open contracts at this strike prior to today, and today 54 contract(s) were bought and sold. 
• For TRIP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>), we notice a put option sweep that happens to be bullish, expiring in 44 day(s) on June 21, 2024. This event was a transfer of 100 contract(s) at a $23.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $46.2K, with a price of $462.0 per contract. There were 401 open contracts at this strike prior to today, and today 46 contract(s) were bought and sold. 
• For GOOG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), we notice a put option trade that happens to be bullish, expiring in 72 day(s) on July 19, 2024. This event was a transfer of 400 contract(s) at a $155.00 strike. The total cost received by the writing party (or parties) was $68.8K, with a price of $172.0 per contract. There were 3660 open contracts at this strike prior to today, and today 34 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

BILI

CDLX

CHTR

GOOG

GOOGL

RBLX

TRIP

10 Communication Services Stocks Whale Activity In Today's Session

WIIM

Snap shares are trading lower after the company announced a proposed private offering of $650 million of convertible senior notes due 2030.

Snap Announced That It Intends To Offer $650M Aggregate Principal Amount Of Convertible Senior Notes Due 2030 In A Private Placement

Deep-pocketed investors have adopted a bearish approach towards Snap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNAP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Snap. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 64% bearish. Among these notable options, 6 are puts, totaling $305,672, and 11 are calls, amounting to $563,765.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $22.0 for Snap during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Snap's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Snap's whale trades within a strike price range from $10.0 to $22.0 in the last 30 days. 
<h3>Snap Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715101254_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SNAP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$2.42</td>
<td>$2.31</td>
<td>$2.4</td>
<td>$20.00</td>
<td>$119.3K</td>
<td>728</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>SNAP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$2.75</td>
<td>$2.62</td>
<td>$2.74</td>
<td>$19.00</td>
<td>$81.9K</td>
<td>37</td>
<td style="text-align: right;">300</td>
</tr>
<tr>
<td>SNAP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$4.1</td>
<td>$4.05</td>
<td>$4.05</td>
<td>$13.00</td>
<td>$68.4K</td>
<td>89.3K</td>
<td style="text-align: right;">202</td>
</tr>
<tr>
<td>SNAP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$2.72</td>
<td>$2.67</td>
<td>$2.71</td>
<td>$18.00</td>
<td>$66.3K</td>
<td>533</td>
<td style="text-align: right;">70</td>
</tr>
<tr>
<td>SNAP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$4.25</td>
<td>$4.2</td>
<td>$4.25</td>
<td>$20.00</td>
<td>$65.8K</td>
<td>393</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Snap</h3>
Snap owns one of the most popular social networking apps, Snapchat, claiming more than 400 million daily active users as of the end of 2023. Snap generates nearly all its revenue from advertising. While only about one quarter of users are in North America, the region accounts for about 65% of sales.
In light of the recent options history for Snap, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Snap's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 13,581,911, the SNAP's price is down by -0.24%, now at $16.8. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 77 days.</li>
</ul>
<h3>What The Experts Say On Snap</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $13.6.
<ul>
<li>Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Snap, targeting a price of $14. </li>
<li>Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Snap with a target price of $14. </li>
<li>An analyst from Morgan Stanley has decided to maintain their Underweight rating on Snap, which currently sits at a price target of $12. </li>
<li>An analyst from Truist Securities has decided to maintain their Hold rating on Snap, which currently sits at a price target of $16. </li>
<li>An analyst from Stifel persists with their Hold rating on Snap, maintaining a target price of $12. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Snap options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

This Is What Whales Are Betting On Snap

AMZN

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<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) shares rose 20.0% after it reported first-quarter sales of $5.37 billion — beating the consensus of $5.15 billion — and also <a href="https://www.benzinga.com//node/38523582" target="_blank" rel="noreferrer noopener">raised the FY24 outlook</a>. Multiple firms raised their <a href="https://www.benzinga.com/quote/THC/analyst-ratings" target="_blank" rel="noreferrer noopener">respective price targets on the stock</a>.</li>
<li>Pinterest, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) shares increased 19.9% after the company reported&nbsp;first-quarter&nbsp;revenue of&nbsp;$740 million, which beat the&nbsp;consensus estimate&nbsp;of&nbsp;$699.872 million and a loss per share of $0.04, which beat analyst estimates&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38534719" rel="noreferrer noopener">for a loss of $0.09 per share</a>. Several analysts raise&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38558198" rel="noreferrer noopener">forecasts&nbsp;on the stock</a>.</li>
<li>Bio-Techne Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TECH#NASDAQ">TECH</a>) increased 17.2% following upbeat Q3 quarterly results and the announcement of a distribution <a href="https://www.benzinga.com//node/38544446" target="_blank" rel="noreferrer noopener">agreement with Thermo Fisher Scientific</a>.</li>
<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) shares were up 14.9%  after the company reported better-than-expected Q1 revenue of $1.82 billion, beating the consensus of $1.736 billion, and adjusted EPS stood at $0.57, <a href="https://www.benzinga.com//node/38591577" target="_blank" rel="noreferrer noopener">beating the consensus of $0.52</a>. Few analysts raised the <a href="https://www.benzinga.com/quote/HWM/analyst-ratings" target="_blank" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>Garmin Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) shares grew 13.9% after it reported&nbsp;first-quarter&nbsp;FY24 revenue of&nbsp;$1.38 billion, beating the&nbsp;consensus of&nbsp;$1.25 billion and proforma EPS of&nbsp;$1.42&nbsp;beat&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38552073" rel="noreferrer noopener">the&nbsp;consensus of&nbsp;$1.01</a>.&nbsp;Some analysts raised&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/GRMN/analyst-ratings" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) shares are up 12.5% after it reported sales of $167 million, beating the consensus of $97.5 million, and reported <a href="https://www.benzinga.com//node/38592653" target="_blank" rel="noreferrer noopener">smaller-than-expected Q1 losses</a>.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares are up 12.5%. The company reported better-than-expected <a href="https://www.benzinga.com//node/38498046" target="_blank" rel="noreferrer noopener">first-quarter results last Thursday</a>. </li>
<li>Woodward, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) shares increased 11.2% after&nbsp;the company reported&nbsp;better-than-expected&nbsp;Q2&nbsp;financial results and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38502107" rel="noreferrer noopener">raised&nbsp;FY24 guidance</a>.</li>
<li>KE Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>) shares are up 9.7%.</li>
<li>JD.Com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) shares grew 9.2%.</li>
<li>Amcor Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>) shares gained 9.1%.</li>
<li>Mobileye Global Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares rose 8.9%.</li>
</ol>
See Also: <a href="https://www.benzinga.com/24/05/38633879/last-weeks-worst-performing-stocks-are-these-15-large-cap-stocks-in-your-portfolio-april-28-may-4-20">Last Week&#8217;s Worst-Performing Stocks: Are These 15 Large-Cap Stocks In Your Portfolio? (April 28-May 4, 2024)</a>
Photo: Shutterstock

The Nasdaq 100 closed higher by more than 200 points on Thursday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">DocuSign</h3>
<ul>
<li>The Trade: DocuSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) President and CEO Allan C. Thygesen <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 8,086 shares</a> at an average price of $56.16. The insider received around $454,110 from selling those shares.</li>
<li>What's Happening: On April 12, UBS analyst Karl Keirstead upgraded DocuSign from Sell to Neutral and raised the price target from $48 to $62.</li>
<li>What DocuSign Does: DocuSign offers the Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
<h3 class="wp-block-heading">Snap</h3>
<ul>
<li>The Trade: Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) General Counsel Michael J. O&#8217;Sullivan <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 18,000 shares</a> at an average price of $15.10. The insider received around $271,802 from selling those shares.</li>
<li>What's Happening: On April 25, Snap reported quarterly earnings of 3 cents per share, which beat the analyst consensus estimate of a loss of 5 cents per share.</li>
<li>What Snap Does: Snap owns one of the most popular social networking apps, Snapchat, claiming more than 400 million daily active users as of the end of 2023.</li>
</ul>
Coinbase Global
<ul>
<li>The Trade: Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) President and COO Emilie Choi <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 9,500 shares</a> at an average price of $209.40. The insider received around $1.99 million from selling those shares.</li>
<li>What's Happening: On May 2, Coinbase Global reported upbeat sales for its first quarter. The company reported GAAP EPS of $4.40..</li>
<li>What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.</li>
</ul>
<h3 class="wp-block-heading">DoorDash</h3>
<ul>
<li>The Trade: DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) CFO Ravi Inukonda <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 7,000 shares</a> at an average price of $130.95. The insider received around $916,654 from selling those shares.</li>
<li>What's Happening: On May 1, DoorDash reported mixed first-quarter financial results.</li>
<li>What DoorDash Does: Founded in 2013 and headquartered in San Francisco, DoorDash is an online food order demand aggregator. Consumers can use its app to order food on-demand for pickup or delivery from merchants mainly in the US.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/05/38606910/investor-sentiment-increases-ahead-of-jobs-report-dow-jumps-over-300-points">Investor Sentiment Increases Ahead Of Jobs Report, Dow Jumps Over 300 Points</a>

As of May 2, 2024, two stocks in the communication services sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 7</a>0, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.  
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)</h3>
<ul>
<li>On April 25, Snap reported quarterly earnings of 3 cents per share, which beat the analyst consensus estimate of a loss of 5 cents per share. The company reported 422 million daily active users in the first quarter, an increase of 39 million, or 10%, year-over-year. "The value we provide our community and advertising partners has translated into improved financial performance," said Evan Spiegel, CEO of Snap. "Our large, growing, and hard-to-reach community, brand-safe environment, and full-funnel advertising solutions have made us an increasingly important partner for businesses of all sizes." The company's stock gained around 49% over the past five days and has a <a href="https://www.benzinga.com/quote/SNAP">52-week high of $17.90</a>.</li>
<li>RSI Value: 79.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>SNAP Price Action: Shares of Snap gained 5.4% to close at $15.86 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>)</h3>
<ul>
<li>On April 30, Pinterest said first-quarter revenue increased nearly 23% year-over-year to $740 million, which beat the consensus estimate of $699.872 million. "Q1 was a milestone quarter for Pinterest as we reached new highs: surpassing half a billion monthly active users and reporting 23% revenue growth — our fastest user and revenue growth since 2021," said Bill Ready, CEO of Pinterest. The company's stock gained around 31% over the past five days and h<a href="https://www.benzinga.com/quote/PINS">as a 52-week high </a> of $41.60.</li>
<li>RSI Value: 76.62</li>
<li>PINS Price Action: Shares of Pinterest gained 21% to close at $40.48 on Wednesday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38573088/apple-kellanova-and-3-stocks-to-watch-heading-into-thursday">Apple, Kellanova And 3 Stocks To Watch Heading Into Thursday</a>

Top 2 Tech And Telecom Stocks You May Want To Dump In May

The recent <a href="https://www.benzinga.com/markets/asia/24/04/38418913/tiktok-fights-back-we-arent-going-anywhere-whats-next-for-users">divest-or-be-banned legislation aimed at TikTok</a> has sparked a wave of debate over how much the government should be allowed to control people&#8217;s access to content and media.
The legislation, signed into law by President Joe Biden last week, gives the Beijing-based social media platform nine months to a year to sell its U.S. operations or face an outright ban.
While the law presents TikTok's parent company ByteDance with two options, some commentators, including the company's CEO, have said the dilemma is actually a moot point and lawmakers supporting the law passed it knowing it would effectively signify a ban on the platform.
The bill achieved bipartisan support after a series of classified briefings convinced lawmakers that having 170 million TikTok users in the country presents a sufficiently important national security risk to push the bill forward.&nbsp;
On Monday, European Commission president Ursula von der Leyen said <a href="https://www.benzinga.com/news/24/04/38508391/after-biden-signs-tiktok-ban-into-law-top-eu-leader-says-not-ruling-out-action-against-chinese-platf">the European Union might soon follow suit</a>.
The event is a first in U.S. internet history. Congress has passed several laws aimed at responsible internet usage among the population, like the Digital Millennium Copyright Act of 1998, which has the intent of stopping piracy and copyright violations. 
Certain types of content like child pornography are deemed obscene and therefore are illegal and not protected by the First Amendment, yet the TikTok bill marks the first time the federal government opens the possibility of banning a massively used app or site.
TikTok CEO Shou Chew has called the ban an attack on freedom of speech <a href="https://www.benzinga.com/news/24/04/38500093/tiktok-ban-courts-must-decide-whether-national-security-concerns-trump-freedom-of-expression">and promised his company will contest the law in court.</a> 
Read also: <a href="https://www.benzinga.com//node/38513046">Xi Jinping Puts On European Charm Offensive: Can China Woo EU Amid Simmering US Tensions?</a>
<h3 class="wp-block-heading">What Is The Great Firewall Of China?</h3>
Named in reference to the country's ancient 13,000-mile fortification, the Great Firewall of China refers to a series of measures taken by the Chinese government to control internet traffic within the country's borders since the mid-1990s. 
Visitor from another country will find that sites like Google and YouTube, owned by Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>); Facebook, owned by Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>); Wikipedia or Twitter won't work when connected to a Chinese wifi network or cell phone carrier. 
Apps like Instagram; Snapchat, owned by Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>); and Whatsapp, as well as sites for all the major U.S. publications like the Wall Street Journal or the New York Times Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>), are also banned, Time <a href="https://time.com/6139988/countries-where-twitter-facebook-tiktok-banned/">reports</a>.
TikTok itself is banned in China. ByteDance offers Douyin, a cousin app with a similar design that adheres to the country's strict censorship laws. The app is the country's most popular short-video sharing app, with 700 million active monthly users last May, according to QuestMobile.
Some years after the internet arrived in China, the Chinese Communist Party began a campaign to block all sites that would conflict with the country's goals of "internet sovereignty," which aspires to control the inflow and outflow of information to keep in line with the party's ideology, The Washington Post <a href="https://www.washingtonpost.com/world/asia_pacific/chinas-scary-lesson-to-the-world-censoring-the-internet-works/2016/05/23/413afe78-fff3-11e5-8bb1-f124a43f84dc_story.html">reports</a>.
The measures are aimed at avoiding at what the Chinese government views as the social, economic and national security risks of allowing foreign websites into the population's devices.
The consequences of the Great Firewall are palpable: China's main internet products and services are Chinese-owned. Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) is the country's main search engine, while social platforms WeChat and Qzone, owned by Tencent Holdings ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>), have the highest number of users.
Chinese people and foreigners can illegally access forbidden sites and apps in China by using a VPN service. 
The U.S. government has not made clear what method it would use to effectively ban the app in the country, making it hard to speculate how users might be able to bypass the government restrictions and still be able to use TikTok.
Benzinga's Take: The historic measure to force TikTok to divest its U.S. assets or face a ban can be seen within the context of a recent wave of protectionist measures that are gaining bipartisan support in Washington. 
As armed conflicts and geopolitical tensions gain weight in the political discussion, many Western nations, including the U.S., are developing protectionist measures in an effort to secure economic stability and national security as the global stage becomes increasingly unstable.
Limiting Chinese penetration into the U.S. economy has been a central part of Biden's plan to boost and protect domestic industries, <a href="https://www.benzinga.com/markets/equities/24/03/37750567/biden-to-present-intel-with-chips-act-award-cementing-arizona-as-semiconductor-hotspot-report">including semiconductors</a> and <a href="https://www.benzinga.com/government/24/02/37029580/team-biden-considers-tougher-rules-on-chinese-smart-cars-amid-data-privacy-push-report">electric vehicles</a>.
Shutterstock image.

Asia

Politics

Global

Tech

General

BIDU

TCEHY

TikTok Ban: Is The US Government Taking A Page From China's Censorship Book?

Like Meta Platforms (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Snap Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) and Google parent Alphabet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>)(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>),&nbsp;&nbsp;Amazon.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) reported better-than-expected quarterly results, with stronger than expected revenue being the result of the improvements on the ad business front.
<h3>First Quarter Highlights</h3>
In part due to its booming&nbsp;AWS division and its advertising service, Amazon reported&nbsp;revenue grew&nbsp;12.52%&nbsp;YoY to $143.3 billion,&nbsp;surpassing LSEG&rsquo;s estimate of&nbsp;$142.5 billion.&nbsp;Operating income&nbsp;far outpaced revenue growth as well as it&nbsp;soared more than 200%&nbsp;to&nbsp;$15.3 billion, which is the first&nbsp;sign that Amazon&rsquo;s cost-cutting initiatives&nbsp;and efficiency improvements are benefiting the bottom line as net income&nbsp;skyrocketed 229% YoY to&nbsp;$10.43&nbsp;billion,&nbsp;with diluted EPS amounting to&nbsp;98 cents a share, surpassing LSEG&rsquo;s estimate of&nbsp;83 cents.
Amazon&rsquo;s businesses are thriving, beginning with party seller services that cover commissions that Amazon collects, along with&nbsp;fulfillment, shipping fees and other charges, grew&nbsp;16%&nbsp;YoY&nbsp;to $34.5 billion.
AWS&nbsp;continues to grow and challenge Google and Microsoft, both the cloud and AI front.
The&nbsp;AWS division&nbsp;reported a&nbsp;17%&nbsp;YoY growth&nbsp;to $25 billion, surpassing StreetAccount&rsquo;s estimate of&nbsp;$24.5 billion&nbsp;and reflecting Amazon&rsquo;s strong positioning compared to its AI rivals,&nbsp;Microsoft&nbsp;Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), who secured a leadership position with its early entry and OpenAI acquisition,&nbsp;and Alphabet, with the latter finally catching up to its peers in their efforts&nbsp;to lead&nbsp;the way&nbsp;into the golden age of&nbsp;AI.
AWS&rsquo; actions could spell trouble for Alphabet and Microsoft as&nbsp;Jassy&nbsp;revealed&nbsp;significant investments over the next few years to build new infrastructure and data centers.&nbsp;Amazon will be&nbsp;investing&nbsp;$5.3 billion in Saudi Arabia and $5 billion in Mexico&nbsp;to&nbsp;build new infrastructure centers, along with&nbsp;$10 billion&nbsp;in Mississippi&nbsp;to build two data centers&nbsp;that&nbsp;are projected to create at least 1,000 jobs.
Advertising continues to grow, becoming an increasingly important profit driver.&nbsp;
Advertising revenue grew 24%&nbsp;to $11.8 billion, outpacing&nbsp;both&nbsp;retail and cloud computing&nbsp;growth, as well as StreetAccount&rsquo;s estimate of $11.7 billion.&nbsp;This is&nbsp;the first report since&nbsp;Amazon&nbsp;introduced ads&nbsp;in Prime Video,&nbsp;which analysts expect to generate&nbsp;significant revenue over time.&nbsp;Despite being new to the ad business, Amazon has emerged as one of the big players in the online advertising arena. CEO&nbsp;Andy Jassy&nbsp;has made it clear that the e-commerce and cloud titan will continue to focus on its ad efforts, as it plans&nbsp;include more of its sponsored content on its Prime Video platform.
First quarter results across the board show that online ads have rebounded. Last week, Alphabet also announced its ad business reaccelerated after a tough 2022 and 2023.&nbsp;Google reported total ad sales rose&nbsp;from last year&rsquo;s comparable quarter, when they amounted to&nbsp;$54.55 billion,&nbsp;to&nbsp;$61.66 billion.&nbsp;
<h3>Second Quarter Outlook</h3>
Amazon&nbsp;expects&nbsp;profitability&nbsp;growth to continue in the current&nbsp;quarter but at a more measured pace&nbsp;as it guided for an&nbsp;operating income&nbsp;between&nbsp;$10 billion&nbsp;and&nbsp;$14 billion, on the back of revenue in the range between&nbsp;$144 billion to $149 billion, translating to revenue growth in the range between&nbsp;7%&nbsp;and&nbsp;11%.&nbsp;
Amazon&rsquo;s disciplined focus on efficiency is showing results.
Cost-cutting across the board, fulfillment operations tweaks and stabilization of cloud spending all partially contributed to the&nbsp;earnings growth&nbsp;as Amazon focused to&nbsp;grow&nbsp;its most&nbsp;profitable services, including&nbsp;advertising, cloud computing, Prime memberships and its third-party marketplace.
Amazon continues to stand out among its Big Tech peers as it is yet&nbsp;to implement a quarterly dividend. In February,&nbsp;Meta announced&nbsp;its first dividend&nbsp;at&nbsp;50 cents a share. Last week, Alphabet followed the footsteps of Meta as it announced its first ever&nbsp;dividend of 20 cents a share.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

MSFT

Amazon's Smashing Q1 Financials Show The Power Of A Good And Well Executed Strategy

U.S. stocks settled lower on Tuesday, with the Dow Jones index dipping more than 550 points during the session. All three major indices recorded losses in April, ending a streak of five consecutive months of gains. The Dow dipped 5% to record its weakest monthly performance since Sept. 2022, while the S&amp;P 500 tumbled around 4.2% last month.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst&#8217;s opinion to trust.
Benzinga&#8217;s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. One of the ways traders can sort through Benzinga&#8217;s extensive database of analyst ratings is by analyst accuracy. Here&#8217;s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock</a> Ratings.
Analyst: Jay McCanless
<ul>
<li>Analyst Firm: Wedbush</li>
<li>Ratings Accuracy: 87%</li>
<li>Latest Rating: Reiterated a Neutral rating on PennyMac Mortgage Investment Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PMT#NYSE">PMT</a>) with a price target of $15 on April 29. This analyst sees around 8% increase in the stock.</li>
<li>Recent News: On April 24, PennyMac Mortgage posted better-than-expected quarterly earnings.</li>
</ul>
Analyst: Zachary Fadem
<ul>
<li>Analyst Firm: Wells Fargo</li>
<li>Ratings Accuracy: 87%</li>
<li>Latest Rating: Maintained an Equal-Weight rating on Domino&#8217;s Pizza, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) and boosted the price target from $475 to $525 on April 30, 2024. This analyst sees around 1% downside in the stock.</li>
<li>Recent News: On April 29, Domino&#8217;s Pizza reported better-than-expected first-quarter earnings.</li>
</ul>
Analyst: Mark Kelley
<ul>
<li>Analyst Firm: Stifel</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained a Hold rating on Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) and boosted the price target from $12 to $13 on April 26. This analyst sees around 13% downside in the stock.</li>
<li>Recent News: On April 25, Snap reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates.</li>
</ul>
Analyst: William Stein
<ul>
<li>Analyst Firm: Truist Securities</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained a Buy rating on ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) and cut the price target from $89 to $85 on April 30. This analyst sees around 24% surge in the stock.</li>
<li>Recent News: On April 29, ON Semiconductor reported better-than-expected first-quarter results.</li>
</ul>
Analyst: Hans Mosesmann
<ul>
<li>Analyst Firm: Rosenblatt</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Reiterated a Buy rating on Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) with a price target of $85 on April 30. This analyst sees more than 24% upside in the stock.</li>
<li>Recent News: On April 29, Lattice Semiconductor reported upbeat first-quarter financial results, but issued weak revenue forecast for the second quarter.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/05/38542047/amazon-pfizer-and-3-stocks-to-watch-heading-into-wednesday">Amazon, Pfizer And 3 Stocks To Watch Heading Into Wednesday</a>

Price Target

Trading Ideas

LSCC

This Analyst With 86% Accuracy Rate Sees More Than 24% Upside In Lattice Semiconductor - Here Are 5 Stock Picks For April From Wall Street's Most Accurate Analysts

Last Thursday, Snap Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) reported its first quarter financials, showing&nbsp;that the improvements it made to its advertising system showed results faster than anticipated. Upon the earnings beat, strong revenue growth as well as the rise of daily active users to 422 million, shares surged 21% during after-hours trading.
First quarter results show Snap&rsquo;s efforts to rebuild its ad business are working.
For the first three months of the year, Snapchat-parent reported revenue rose&nbsp;21%&nbsp;to&nbsp;$1.19 billion, surpassing LSEG&rsquo;s estimate of&nbsp;$1.12 billion. More importantly, Snap finally reported double digit sales growth, after&nbsp;six&nbsp;consecutive&nbsp;quarters of single-digit growth&nbsp;and declines.&nbsp;Advertising&nbsp;brought in&nbsp;$1.11 billion&nbsp;to the revenue table, while&nbsp;Other Revenue&nbsp;grew&nbsp;194%&nbsp;YoY to&nbsp;$87 million, fueled by more than&nbsp;9 million&nbsp;Snapchat+ subscribers.&nbsp;As a result, adjusted EBITDA&nbsp;of&nbsp;$46 million&nbsp;surpassed expectations as StreetAccount expected a loss of&nbsp;$68 million. Adjusted EPS amounted to&nbsp;3 cents, also greatly surpassing LSEG&rsquo;s estimate of a 5 cents loss.&nbsp;Net loss narrowed to $305.1 million or&nbsp;19 cent loss per share.
Second quarter guidance also surpassed estimates
For the current quarter, Snap guided for revenue in the between&nbsp;$1.23 billion and $1.26 billion,&nbsp;while StreetAccount expected&nbsp;$1.22 billion.&nbsp;Its adjusted EBITDA&nbsp;outlook is between&nbsp;$15 million and $45 million, also&nbsp;greatly surpassing Wall Street&rsquo;s average expectation of $15.5 million.&nbsp;
Social media companies are benefiting from a stabilizing economy.
Last week, Facebook-parent, Meta Platforms (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), surpassed both top and bottom line analyst estimates with its latest earnings report. However, Meta shares plunged due to a weak revenue guidance. For its first quarter, Meta reported its revenue rose&nbsp;27%&nbsp;to&nbsp;$28.65 billion, which is its fastest growth rate since 2021, with net income more than doubling to&nbsp;$12.37 billion&nbsp;as besides the revenue acceleration, it did a great job in lowering sales and marketing costs by 16% YoY. Ad business, that makes most of Meta&rsquo;s revenue, rose as much as&nbsp;27% to $35.64 billion.However, Meta also increased its capital expenditures forecast due to ramping up AI investments. It guided for the 2024 capital expenditures in the range between&nbsp;$35 billion&nbsp;and&nbsp;$40&nbsp;billion. Although Meta still hasn&rsquo;t delivered its metaverse promise, its track record when it comes to social media and ads is as strong as it gets.
Although Snap is still far behind Meta, both in terms of size and growth, they are facing similar challenges and after all, Snap is targeting a narrower niche of younger social media users. At the end of the day, Snap showed its business is improving faster than expected,&nbsp;providing hope that the Snapchat parent is finally&nbsp;on&nbsp;the right track to&nbsp;monetize its value proposition.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Social Media

Snap Finally Advances On The Ad Front

European Commission president&nbsp;Ursula von der Leyen&nbsp;has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37886126/kevin-oleary-wants-to-buy-tiktok-and-is-scouting-for-investment-an-interesting-deal">suggested that a ban</a> on&nbsp;TikTok&nbsp;in the EU is&nbsp;a possibility.
What Happened: Von der Leyen made the statement during a debate in Maastricht on Monday, where the lead candidates for the 2024 EU election were discussing various issues,&nbsp;<a href="https://www.politico.eu/article/tiktok-ban-in-eu-is-not-excluded-von-der-leyen-says/">reported</a>&nbsp;Politico. 
The moderator had referenced the situation in&nbsp;the U.S., where <a href="https://www.benzinga.com/news/24/04/38394855/biden-set-to-sign-tiktok-ban-into-law-after-senate-passes-bill-supported-by-gop-democrats">TikTok&nbsp;is facing a potential national ban</a> after President Joe Biden <a href="https://www.benzinga.com/markets/asia/24/04/38418913/tiktok-fights-back-we-arent-going-anywhere-whats-next-for-users">signed the bill last week</a>, unless its owner,&nbsp;ByteDance, sells the platform.
&#8220;It is not excluded,&#8221; von&nbsp;der Leyen said, before adding&nbsp;that the Commission was &#8220;the&nbsp;very first institution worldwide to ban TikTok on our corporate&nbsp;phones.&#8221;
 &#8220;We know exactly the danger of TikTok,&#8221; she said. 
See Also:&nbsp;Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This statement comes amid a series of setbacks&nbsp;for TikTok in Europe. Last&nbsp;week, the platform suspended&nbsp;a <a href="https://www.benzinga.com/government/24/04/38445920/tiktok-will-stop-paying-people-for-using-the-app-after-eu-raised-addiction-concerns">feature that rewarded users</a>&nbsp;for engaging&nbsp;with the TikTok Lite app,&nbsp;following an investigation by the Commission under&nbsp;the Digital Services Act or DSA.
TikTok is also under a separate DSA probe&nbsp;for alleged <a href="https://www.benzinga.com/news/24/02/37204761/tiktok-under-investigation-over-possible-violations-of-child-protection-rules-by-the-eu">failures to protect&nbsp;minors</a>. Under the DSA, the&nbsp;Commission has the authority to&nbsp;order the temporary suspension of&nbsp;a service as a last&nbsp;resort.
Meanwhile, TikTok&#8217;s parent company, ByteDance, has&nbsp;<a href="https://www.benzinga.com/news/24/04/38500093/tiktok-ban-courts-must-decide-whether-national-security-concerns-trump-freedom-of-expression">indicated a preference</a>&nbsp;for a shutdown or ban over selling the platform in the U.S. In a video, TikTok CEO&nbsp;Shou Chew&nbsp;promised that the company would first fight the ban in court.
Some observers contend that implementing a ban could potentially advantage the primary competitors of the platform in the U.S., such as Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), both of which have members of <a href="https://www.benzinga.com/news/23/03/31521439/conflict-of-interest-congress-members-who-own-meta-goog-snap-shares-could-benefit-from-tiktok-ban">Congress among their investors</a>.
Photo by XanderSt on Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt?itm_source=parsely-api" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/news/24/04/38488085/metas-chief-ai-scientist-reveals-mark-zuckerberg-was-snubbed-from-bidens-ai-safety-institute-elon-mu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta&#8217;s Chief AI Scientist Reveals Mark Zuckerberg Was &#8216;Snubbed&#8217; From Biden&#8217;s AI Safety Institute; Elon Musk Also Missing From The List</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Media

After Biden Signs TikTok Ban Into Law, Top EU Leader Says Not Ruling Out Action Against Chinese Platform: 'We Know Exactly The Danger'

TikTok&#8217;s parent company, ByteDance, <a href="https://www.benzinga.com/news/24/04/38460175/tiktok-would-rather-shutdown-than-opt-for-sale">would rather face a shutdown, or ban, than sell</a>, according to Reuters.
In a video, TikTok CEO Shou Chew promised that the Beijing-based company would first <a href="https://www.benzinga.com//node/38394855">fight the ban in court</a>.
The video currently has almost 3 million views. TikTok boasts roughly 170 million users. 
President Joe Biden recently <a href="https://www.benzinga.com//node/38394855">signed into law a bill that gives</a> ByteDance nine to 12 months to sell its U.S. assets to a domestic buyer. Otherwise, it faces an outright ban.
The bill saw bipartisan support in the House and Senate. 
Observers argue that a ban could benefit the platform's main competitors in the U.S., including Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) — both of which count <a href="https://www.benzinga.com/news/23/03/31521439/conflict-of-interest-congress-members-who-own-meta-goog-snap-shares-could-benefit-from-tiktok-ban">members of Congress as investors</a>.
Lawmakers argue the decision stems from a series of classified briefings from the FBI, the Justice Department and the Director of National Intelligence. 
Last week, Meta lost over 15% of its value in one day <a href="https://www.benzinga.com//node/38441148">after reporting worse-than-expected quarterly results</a>. The lackluster earnings report was strong enough to counteract positive speculation around the TikTok bill.
Conversely, Snap shares rose more than 25% last week <a href="https://www.benzinga.com/markets/equities/24/04/38456421/snap-gains-over-25-whats-going-on">after reporting quarterly earnings of $46 million, compared to $1 million in the prior year</a>. 
Shou insists the bill was designed to ban the app.
"Make no mistake, this is a ban. Many who sponsor the bill admit a TikTok ban is their ultimate goal," he said.
See Also: <a href="https://www.benzinga.com/news/24/04/38423296/expert-slams-tiktok-ban-bill-as-way-too-vague-questions-impact-on-donald-trumps-truth-social-rumble">Expert Slams TikTok Ban Bill As &#8216;Way Too Vague,&#8217; Questions Impact On Donald Trump&#8217;s Truth Social, Rumble And X</a>
<h3 class="wp-block-heading">TikTok: &#8216;We Aren&#8217;t Going Anywhere&#8217; </h3>
TikTok is known for its recommendation algorithm, which has been touted as the "secret sauce" behind its massive global success.
The issue has extra complications for the company, which is stuck between the geopolitical interests of the world's two largest economies. 
While the U.S. government is deeming TikTok a national security risk, China has a hold over the company's ability to sell its U.S. platform. Since TikTok's recommendation algorithm is listed in the country's export-control list, <a href="https://www.benzinga.com/markets/asia/24/03/37800098/tiktok-ban-china-has-the-power-to-block-sale-gains-leverage-over-washington">China could decide to block the sale</a> altogether.
That would leave ByteDance with the option of selling TikTok's brand and design without its algorithm.
But, according to Shou, a legal fight will transpire before a sale. 
"Rest assured, we aren&#8217;t going anywhere. We're confident and we will keep fighting for your rights in the courts," said Shou.
Shou also hinted at the idea the ban is threatening freedom of expression in the U.S. in his video statement.
"It's actually ironic, because the freedom of expression on TikTok reflects the same American values that make the United States a beacon of freedom," said Shou.
First Amendment Vs. National Security: Legal experts <a href="https://www.theverge.com/24141539/tiktok-ban-bytedance-china-dc-circuit-supreme-court">quoted</a> by The Verge agree that the unconstitutionality of the ban is the strongest claim the company has against the law. 

Yet the national security aspect of the legislation makes it especially hard to challenge in court, as courts are normally reluctant to overstep Congressional decisions regarding national security matters.
The TikTok challenge will first go to the D.C Circuit Court, the main court of appeals for issues of constitutional law, and second in line after the Supreme Court.
What will ultimately be debated in court — and in the public sphere — is whether national security concerns trump the First Amendment in this specific scenario.
ByteDance has yet to file a claim, but experts are expecting legal action to come from business owners and influencers who lean on the app to keep their businesses running.
Now Read: <a href="https://www.benzinga.com/government/24/04/38445920/tiktok-will-stop-paying-people-for-using-the-app-after-eu-raised-addiction-concerns">TikTok Will Stop Paying People For Using The App After EU Raised Addiction Concerns</a>
Shutterstock image.

TikTok Ban: Courts Must Decide Whether National Security Concerns Trump Freedom Of Expression

Snap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares are trading higher Monday, and the stock is up more than 30% over the past five days. Here's a <a href="https://www.benzinga.com/news/earnings/24/04/38445632/snap-shares-soar-on-better-than-expected-q1-results-daily-active-user-growth-q2-revenue-guidance">look at what's going on.</a> 
What To Know:
Snap reported better-than-expected first-quarter results last Thursday. Snapchat grew to over 422 million daily active users, an increase of 39 million, or 10% year-over-year, and the number of Snapchat+ subscribers more than tripled year-over-year, surpassing 9 million subscribers in the first quarter.&nbsp;
A slew of analysts raised their price targets on the stock after the print:&nbsp;
<ul>
<li>Truist Securities analyst Youssef Squali maintained Snap with a Hold and raised the price target from $12 to $16.</li>
<li>Goldman Sachs analyst Eric Sheridan maintained a Neutral rating and raised the price target on Snap shares from $13.50 to $16.</li>
<li>RBC Capital analyst Brad Erickson maintained a Sector Perform rating and raised the price target from $13 to $16 on the stock.&nbsp;</li>
<li>Barclays analyst maintained Snap with an Overweight and raised the price target from $15 to $17.</li>
<li>Wells Fargo analyst maintained its Overweight rating and raised the price target on the stock from $16 to $18.</li>
</ul>
Related News: <a href="https://www.benzinga.com/news/24/04/38469297/whats-going-on-with-immunitybio-stock">What&#8217;s Going On With ImmunityBio Stock?</a>
<h2 class="wp-block-heading">Should I Sell My Snap Stock?</h2>
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Snap have increased by 68.61% in the past year. An investor who bought shares of Snap at the beginning of the year would take a loss of $1.42 per share if they sold it today. The stock has risen 30.84% over the past month, meaning an investor who bought shares on March 1 would see a capital gain of $3.69.
Snap shares have an all-time high of $83.11, representing 464.61% upside from current levels.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Snap stock currently has an RSI of 89.64, indicating overbought conditions.
For access to advanced charting and analysis tools and stock data, check out <a href="https://pro.benzinga.com/">Benzinga PRO. Try it for free.</a> 
SNAP Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Snap shares are up 0.69% at $14.65 at the time of publication Monday.
Image: Shutterstock

Susquehanna analyst Shyam Patil maintains Snap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) with a Neutral and raises the price target from $12 to $15.

Analyst Ratings

Susquehanna Maintains Neutral on Snap, Raises Price Target to $15

U.S. stocks settled higher on Friday, with the S&amp;P 500 recording its best week since Nov, 2023. The index surged 2.7%, snapping a three-week losing streak, while the Dow added 0.7% last week.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst&#8217;s opinion to trust.
Benzinga&#8217;s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. One of the ways traders can sort through Benzinga&#8217;s extensive database of analyst ratings is by analyst accuracy. Here&#8217;s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock</a> Ratings.
Analyst: Jay McCanless
<ul>
<li>Analyst Firm: Wedbush</li>
<li>Ratings Accuracy: 87%</li>
<li>Latest Rating: Maintained an Outperform rating on  &lt;b> Mr. Cooper Group Inc.&lt;/b> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NASDAQ">COOP</a>) and increased the price target from $85 to $100 on April 25. This analyst sees around 27% upside in the stock.</li>
<li>Recent News: On April 24, Mr. Cooper reported better-than-expected first-quarter financial results.</li>
</ul>
Analyst: Mark Kelley
<ul>
<li>Analyst Firm: Stifel</li>
<li>Ratings Accuracy: 87%</li>
<li>Latest Rating: Maintained a Hold rating on Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) with a Buy rating and increased the price target from $12 to $13 on April 26. This analyst sees around 10% downside in the stock.</li>
<li>Recent News: On April 25, Snap reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates.</li>
</ul>
Analyst: William Stein
<ul>
<li>Analyst Firm: Truist Securities</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained a Hold rating on Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and cut the price target from $45 to $33 on April 26. This analyst sees over 4% upside in the stock.</li>
<li>Recent News: On April 25, Intel reported worse-than-expected first-quarter sales results and issued EPS guidance below estimates.</li>
</ul>
Analyst: Zachary Fadem
<ul>
<li>Analyst Firm: Wells Fargo</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained an Overweight rating on O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) and cut the price target from $1,300 to $1,200 on April 25. This analyst sees about 15% gain in the stock.</li>
<li>Recent News: On April 24, O&#8217;Reilly Automotive posted upbeat quarterly earnings.</li>
</ul>
Analyst: Lauren Silberman
<ul>
<li>Analyst Firm: Deutsche Bank</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained a Buy rating on Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) and increased the price target from $3,400 to $3,600 on April 25. This analyst sees around 13% upside in the stock.</li>
<li>Recent News: On April 24, Chipotle Mexican Grill reported better-than-expected first-quarter financial results.</li>
</ul>
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38458706/top-4-materials-stocks-that-may-explode-in-q2">Top 4 Materials Stocks That May Explode In Q2</a>

COOP

INTC

ORLY

This Analyst With 86% Accuracy Rate Sees Around 13% Upside In Chipotle Mexican Grill - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

Elon Musk-led social media platform&nbsp;X, formerly known as&nbsp;Twitter,&nbsp;was down for some users globally on Monday.
Several users reported issues with the web and app.
According to the global <a href="https://downdetector.com/status/twitter/?_gl=1&#x2A;1ijo1ms&#x2A;_up&#x2A;MQ..&#x2A;_ga&#x2A;MTU2NjQ2NTAwMC4xNzE0MzgyNDE1&#x2A;_ga_0PZM58H213&#x2A;MTcxNDM4MjQxNS4xLjAuMTcxNDM4MjQxNS4wLjAuMA.." target="_blank" rel="noreferrer noopener">version of Downdetector</a>, which tracks  outage for websites and app, several users reported outages by 3:50 am Monday, Eastern Time (ET).
Close to 53% of&nbsp;users faced issues related to the X app, 32% with the website, and 15% related to the server connection.
Musk rebranded Twitter as X to advocate free speech&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36559168/elon-musks-x-big-changes-to-former-twitter-bigger-challenges-ahead" rel="noreferrer noopener">and content accuracy</a>.
Users said they&nbsp;faced&nbsp;&#8220;something went wrong. Try reloading&#8221;&nbsp;error message&nbsp;on the app and web.&nbsp;This&nbsp;is the second outage in one week.&nbsp;
X has not acknowledged the issue yet.
Also Read: <a href="https://www.benzinga.com/news/24/04/38085685/elon-musk-mocks-meta-after-facebook-instagram-whatsapp-outage-distracted-selling-their-users-data" target="_blank" rel="noreferrer noopener">Elon Musk Mocks Meta After Facebook, Instagram, Whatsapp Outage: &#8216;Distracted Selling Their User&#8217;s Data&#8217;</a>
Photo by Camilo Concha on Shutterstock

RDDT

Elon Musk's X Faces Widespread Disruptions, Affecting Users Globally

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The stock market had a strong 2023, which carried into 2024. After some initial declines in April, tech giants reported strong earnings that raised the stock market. However, there are some concerns beyond the horizon. Higher inflation, elevated interest rates and significant consumer debt can lead to obstacles in the future and stocks to avoid.



Investors shouldn&rsquo;t offload their portfolios during a crash. Holding onto stocks for several years, if not decades, can lead to meaningful long-term results. However, some positions are better than others. You may want to check your portfolio and make sure it doesn&rsquo;t include any of these three stocks to avoid.



<h2>Snap (SNAP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/snapchat-app-300x169.png" alt="The Snapchat (SNAP) and Instagram apps on displayed on an iPhone, which sits on a gray background."><div>Source: BigTunaOnline / Shutterstock</div></div>Snap (NYSE:<a href="https://investorplace.com/stock-quotes/snap-stock-quote/">SNAP</a>) is a contrarian pick for this list since investors got excited about the company&rsquo;s recent earnings report. The <a href="https://s25.q4cdn.com/442043304/files/doc_financials/2024/q1/Q1-24-Press-Release_FINAL-4-25-24.pdf">Q1 2024 print</a> got investors excited and resulted in a 28% gain for the stock.&nbsp;



The most notable change was the company&rsquo;s 21% year-over-year revenue growth. That&rsquo;s the number you want to see from a growth stock. Daily active users also increased by 10% year-over-year. However, there are some issues.



The company&rsquo;s net loss came to $305 million. That&rsquo;s an improvement from a Q1 2023 net loss of $329 million, but a 7% improvement is not enough. Snap is still deep in debt, and an economic slowdown will bring the company&rsquo;s revenue growth to an immediate halt.



Q2 guidance implies 15% to 18% year-over-year revenue growth. <a href="https://www.cnbc.com/2024/04/26/snap-shares-rocket-28percent-as-company-reports-unexpected-profit.html">Snapchat+ subscription growth</a> is driving some of the gains, and revenue has grown by 194% year-over-year. However, the company is still well removed from GAAP profitability. I&rsquo;d be somewhat interested if the company didn&rsquo;t have a $24 billion market cap or made more progress with trimming its losses.&nbsp;



<h2>Etsy (ETSY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/etsy-1600-1-300x169.png" alt="Etsy logo is over an orange background with a little shopping cart with packages in it. ETSY stock."><div>Source: Sergei Elagin / Shutterstock</div></div>Etsy&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/etsy-stock-quote/">ETSY</a>) growth days look like they are over. Q4 2023 <a href="https://s22.q4cdn.com/941741262/files/doc_financials/2023/q4/Exhibit-99-1-Q4-2023.pdf">consolidated gross merchandise sales</a> dropped by 0.7% year-over-year in a time when other e-commerce corporations reported good revenue growth. While Etsy did achieve 4.3% year-over-year revenue growth, that growth came from charging higher fees. There&rsquo;s a limit to how much Etsy can charge before users look for other platforms.



If consolidated gross merchandise sales remain flat, the company will continue to struggle. Etsy already warned about a bad Q1 2024, with GMS expected to decline in the low-single-digit range on a year-over-year basis. Leadership expects a turnaround to develop in Q2 2024. That can be due to Etsy facing more generous comps.



After soaring during the pandemic amid impressive financial growth, Etsy has collapsed. Shares are down by 33% over the past year and have dropped by 17% year-to-date. It&rsquo;s hard to feel excited about the stock, and an economic downturn that weakens consumer spending can spell more trouble for the e-commerce firm.



<h2>Cava (CAVA)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/cava1600-2-300x169.png" alt="Cava Group is a restaurant chain founded in 2006 in Rockville, Maryland, by Ted Xenohristos, Chef Dimitri Moshovitis and Ike Grigoropoulos."><div>Source: Nicole Glass Photography / Shutterstock.com</div></div>Putting Cava (NYSE:<a href="https://investorplace.com/stock-quotes/cava-stock-quote/">CAVA</a>) on this list is tough. The Mediterranean trend is strong, <a href="https://investor.cava.com/news/news-details/2024/CAVA-Enters-the-Midwest-with-its-First-Chicago-Restaurant/default.aspx">Cava is expanding</a>, and it has the potential to be a great pick for investors with 10-year time horizons.



However, it&rsquo;s hard to ignore the 330 P/E ratio for a restaurant chain expected to slow down in fiscal 2024. Cava opened 72 restaurants in Fiscal 2023 to bring its total up to 309 restaurants. That&rsquo;s a 30.4% year-over-year increase in the number of total Cava restaurants. Revenue growth also came in strong, 52.5% higher than last year&rsquo;s period. Net income also flipped positive to $2.0 million compared to a net loss of $18.8 million in the same quarter last year.



However, the company only anticipates opening 48-52 new restaurants in fiscal 2024. That&rsquo;s only a 16.2% year-over-year improvement compared to the company&rsquo;s 309 restaurants.&nbsp;



The company also expects same-restaurant sales growth to hover only from 3.0% to 5.0% year-over-year in fiscal 2024. Meanwhile, the company posted 17.9% year-over-year same restaurant sales growth in fiscal 2023. Decelerating sales can pressure the stock, especially since it has gained 69% year-to-date.&nbsp;



On the date of publication, Marc Guberti did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News &amp; World Report, Benzinga, and Joy Wallet.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/stock-market-crash-warning-dont-get-caught-holding-these-3-stocks/">Stock Market Crash Warning: Don't Get Caught Holding These 3 Stocks</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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I&rsquo;d like&nbsp;to begin this article by informing you that I&nbsp;am personally opposed to&nbsp;the overall concept of a metaverse.&nbsp;My bias against it stems from the belief that, as a project, it lacks the substance necessary to deliver on its financial promises. After all, for it to succeed, the quality of life in virtual reality would have to surpass that of the real world.&nbsp;The idea of&nbsp;living in a matrix&nbsp;just&nbsp;doesn&rsquo;t appeal to me enough to root for it.



That said,&nbsp;it is still a&nbsp;major&nbsp;technological project with several early adopters who remain exceptionally bullish on its prospects.&nbsp;From the financial standpoint, it certainly has potential, should the process of wearing headsets and living in 3D models of the&nbsp;real&nbsp;world prevail. As such,&nbsp;I&rsquo;m going to&nbsp;tell you about three metaverse stocks to sell in case that doesn&rsquo;t happen.



<h2>Snap (SNAP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/snapchat-app-300x169.png" alt="The Snapchat (SNAP) and Instagram apps on displayed on an iPhone, which sits on a gray background."><div>Source: BigTunaOnline / Shutterstock</div></div>I&rsquo;ve&nbsp;been critical before&nbsp;of&nbsp;Snap&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/snap-stock-quote/">SNAP</a>)&nbsp;through the lens&nbsp;of its artificial intelligence failures, but it seems the company&rsquo;s metaverse offerings struggle as well.&nbsp;Its current foray into the metaverse sector is Snap Augmented Reality (<a href="https://investorplace.com/stock-quotes/ar-stock-quote/">AR</a>),&nbsp;which is&nbsp;essentially a rebrand of the standard Snapchat filter feature.&nbsp;



Through this re-positioning of an already extant feature, Snap has hoped to capitalize on some&nbsp;of the&nbsp;hype around the metaverse concept.&nbsp;Yet, just like with its AI ventures, the company&nbsp;seems to have&nbsp;missed the mark.&nbsp;Despite boasting a year-over-year revenue increase and&nbsp;smaller&nbsp;net losses in Q1 2024, Snap lost money in&nbsp;<a target="_blank" href="https://www.google.com/finance/quote/SNAP:NYSE?sa=X&amp;ved=2ahUKEwiV3c7Sw4GGAxWd1QIHHVJ6DFIQ3ecFegQIdhAf">all four quarters of 2023</a>&nbsp;and continued the trend in the latest quarter.



Furthermore, its latest earnings report mentions the improvements made to Snap AR but does little to explain how they impact its bottom line or drive new revenue opportunities.&nbsp;Now with&nbsp;its new AR glasses in a&nbsp;<a target="_blank" href="https://www.theverge.com/22819963/snap-ar-spectacles-glasses-hands-on-pictures-design-features">closed beta amongst tech reviewers</a>, the company&rsquo;s metaverse prospects still need time to mature.



<h2>Roblox (RBLX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/rblx1600-300x169.png" alt=""><div>Source: Koshiro K / Shutterstock.com</div></div>In some ways,&nbsp;Roblox&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/rblx-stock-quote/">RBLX</a>) represents the earliest iterations of a functioning metaverse. That&rsquo;s because the gaming platform offers the basics of a consistent avatar that&nbsp;can be used&nbsp;to interact in several different virtual spaces. However, the company has relied on a free-to-play, pay-to-win business for&nbsp;a little&nbsp;too long, and global economic conditions are&nbsp;<a target="_blank" href="https://www.proactiveinvestors.com/companies/news/1047225/roblox-shares-plunge-on-weak-guidance-quarterly-revenue-miss-1047225.html">catching up with it</a>.



As consumers become increasingly&nbsp;choosy&nbsp;about where they spend their money,&nbsp;they&rsquo;re also keeping&nbsp;a tighter hold on gaming spending. Due to this, parents of Roblox users and adult users themselves are spending less on the platform&rsquo;s premium currency.&nbsp;Of course, this cuts into Roblox&rsquo;s revenue and bottom line,&nbsp;but&nbsp;it&nbsp;also underscores a broader issue with the metaverse.



The issue is that for users in a metaverse to generate currency for their virtual reality applications, they have to either make money in the real world and exchange it or&nbsp;<a target="_blank" href="https://www.linkedin.com/pulse/make-money-playing-roblox-games-shafqat-ullah-isqef#:~:text=Live%20streaming%20and%20Content%20Creation%3A&amp;text=Roblox%20players%20can%20monetize%20their,a%20lucrative%20source%20of%20income.">spend time in the metaverse generating currency</a>. Ultimately, they&rsquo;re limiting their earnings in the real world. Thus, Roblox sits among metaverse stocks to sell until it adjusts its&nbsp;main&nbsp;revenue model.



<h2>Matterport (MTTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/mttr_matterport_1600-300x169.png" alt="Illustrative Editorial of Matterport's (MTTR stock) website homepage. MATTERPORT logo visible on display screen."><div>Source: II.studio / Shutterstock.com</div></div>Though not directly targeting the metaverse industry,&nbsp;Matterport&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/mttr-stock-quote/">MTTR</a>) has often received praise as a technological bridge to its expansion. These speculations&nbsp;often&nbsp;come from the company&rsquo;s AR projects overlapping with the need for 3D spatialization in further metaverse expansion.&nbsp;



Currently, the company achieves this by using 3D mapping cameras to create digital twins of physical spaces.&nbsp;It then sequentially maps these spaces for users to&nbsp;virtually&nbsp;walk through them.&nbsp;As a result, Matterport&rsquo;s services have become exceptionally popular with realty companies and developers. However, despite its&nbsp;genuinely&nbsp;innovative product, the company has struggled to&nbsp;<a target="_blank" href="https://investors.matterport.com/news-releases/news-release-details/matterport-announces-first-quarter-2024-financial-results">achieve profitability</a>.



Moreover, MTTR stock has seen a dramatic loss in value over the&nbsp;<a target="_blank" href="https://www.google.com/finance/quote/MTTR:NASDAQ?sa=X&amp;ved=2ahUKEwj22pONr4GGAxWe8QIHHbP2C3wQ3ecFegQIOBAf&amp;window=5Y">last five years</a>, and with no meaningful progress, it&rsquo;s unlikely the stock will ever return investors&rsquo; original investments. With&nbsp;CoStar&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/csgp-stock-quote/">CSGP</a>) now set to acquire the company, it might be worth selling the stock after the sale goes through, as the MTTR acquisition price sits at a near&nbsp;<a target="_blank" href="https://www.theglobeandmail.com/investing/markets/indices/TXCX/pressreleases/25999898/matterport-nasdaqmttr-reports-q1-in-line-with-expectations-to-be-acquired/">20% premium for $5.50</a>&nbsp;a share compared to its current $4.50 price.



On the&nbsp;date of publication, Viktor Zarev&nbsp;did not have (either&nbsp;directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a target="_blank" href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-metaverse-stocks-to-sell-in-may-before-they-crash-burn/">3 Metaverse Stocks to Sell in May Before They Crash &amp; Burn</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Editor&rsquo;s note: &ldquo;Elon Musk&rsquo;s Next Billion-Dollar Venture Is in Motion Right Now&rdquo; was previously published in April 2024. It has since been updated to include the most relevant information available.



Elon Musk is one of the richest men in the world. And of course, that didn&rsquo;t happen by accident.&nbsp;



He amassed his $185 billion fortune by starting, running, and growing successful businesses. Musk helped transform both PayPal (<a href="https://investorplace.com/stock-quotes/pypl-stock-quote/">PYPL</a>) and Tesla (<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) into the multi-billion-dollar firms they are today. He founded SpaceX and turned it into a multi-billion-dollar space exploration empire.&nbsp;



And now he is working on his next potential multi-billion-dollar project&hellip;



One that could be even bigger than PayPal, SpaceX, and Tesla combined&hellip;&nbsp;A next-gen &ldquo;<a href="https://secure.investorplace.com/?cid=MKT798791&amp;eid=MKT802420&amp;step=start&amp;plcid=PLC208525">super app.</a>&rdquo;







<h2>Envisioning a Super App</h2>



Back in late 2022, Musk bought the popular social media app Twitter for $44 billion. Since then, he has rebranded it as &ldquo;X&rdquo; and executed a plethora of modifications.&nbsp;



He&rsquo;s changed the business&rsquo; organizational structure, created a new business model, launched new features and introduced new tools.&nbsp;



Of course, the big questions here are: Why did Musk buy Twitter in the first place? And why is he changing it so radically?&nbsp;



<a href="https://secure.investorplace.com/?cid=MKT798791&amp;eid=MKT802420&amp;step=start&amp;plcid=PLC208525">Well, it&rsquo;s because Musk wants to turn X into the super app that replaces Facebook, Instagram, Pinterest (PINS), Snapchat (SNAP), Netflix (NFLX), Amazon (AMZN), and others.</a>&nbsp;



In an internal X meeting just a few months ago, Musk said: &ldquo;We&rsquo;re rapidly transforming the company from what it was, Twitter 1.0, to the everything app.&rdquo;



He wants to turn X into a &ldquo;single application that encompasses everything.&rdquo;



<h2>Elon Musk Aims to Dethrone Incumbent Champions</h2>



Now, details on this plan are scant. But we do know that Musk wants to integrate payments into X so users can directly link their bank accounts to send money and buy things from each other.&nbsp;



Of course, that sounds a lot like eBay (<a href="https://investorplace.com/stock-quotes/ebay-stock-quote/">EBAY</a>) or Amazon&hellip; except it would be built right on top of one of the world&rsquo;s most popular social media platforms &ndash; one that a lot of us already spend a lot of time on every day.&nbsp;



Such a platform could dethrone eBay or Amazon and become the world&rsquo;s top online shopping destination.&nbsp;



And the potential feels near-limitless. X could get into short videos, shows, maybe even movies, making it a threat to Netflix. Musk could incorporate AI to create content, recommend products, etc.&nbsp;



In fact, Musk has started his own AI startup, xAI, which many think has the potential to rival ChatGPT. And since X has access to a ton of social data, any integrated AI would likely be very good.



So, yes, while Musk&rsquo;s vision of turning X into a super app is ambitious, it&rsquo;s also doable.&nbsp;



<a href="https://secure.investorplace.com/?cid=MKT798791&amp;eid=MKT802420&amp;step=start&amp;plcid=PLC208525">We&rsquo;re confident he has the tools, technologies, and resources necessary to create a super app worth hundreds of billions of dollars.</a>







<h2>The Final Word on the Elon Musk Super App</h2>



After all, this is Elon Musk we&rsquo;re talking about&hellip;



The same man who helped to grow the world&rsquo;s largest digital payments platform at a time when everyone thought internet money was a mere fantasy&hellip;&nbsp;



He created the world&rsquo;s largest space enterprise while everyone was satisfied with NASA.&nbsp;



And he guided Tesla to become a leading EV maker when there hadn&rsquo;t really been a successful new auto business in 100 years.&nbsp;



<a href="https://secure.investorplace.com/?cid=MKT798791&amp;eid=MKT802420&amp;step=start&amp;plcid=PLC208525">That&rsquo;s exactly why we think X could be the next super app.</a>&nbsp;



But, alas, how can you invest in X&rsquo;s transcendence?&nbsp;



You can&rsquo;t&hellip; directly, at least&hellip; because Elon Musk took X private when he acquired the company.



But you can invest in a tiny project&hellip; trading for less than $1&hellip; that could be a big part of X&rsquo;s transition to super app.



In fact, this sub-$1 project could be the very currency that powers Musk&rsquo;s new venture.&nbsp;



Now, there are no guarantees &ndash; though our research suggests it is a real possibility.&nbsp;



And, of course, if that happens&hellip; this sub-$1 project will absolutely soar.&nbsp;



<a href="https://secure.investorplace.com/?cid=MKT798791&amp;eid=MKT802420&amp;step=start&amp;plcid=PLC208525">Invest in this explosive penny trade before it takes off.</a>



On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.



P.S. You can stay up to speed with Luke&rsquo;s latest market analysis by reading our Daily Notes! Check out the latest issue on your&nbsp;<a href="https://investorplace.com/innovationinvestor/">Innovation Investor</a>&nbsp;or&nbsp;<a href="https://investorplace.com/earlystageinvestor/">Early Stage Investor</a>&nbsp;subscriber site.
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	The post <a href="https://investorplace.com/hypergrowthinvesting/2024/05/elon-musks-next-billion-dollar-venture-is-in-motion-right-now/">Elon Musk's Next Billion-Dollar Venture Is in Motion Right Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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