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

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

Tesla, Inc. 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.

Despite the recent strength, stocks continue to be volatile in recent weeks as investors continue to monitor the Russia-Ukraine conflict.

At the time of publication, Meta Platforms was trading about 3.9% higher at $233.66 per share, Snap was trading about 3.7% higher at $38.80 per share and Pinterest was trading about 8.2% higher at $26.85 per share.