Why These Two Social Media Apps Are Reporting Massive Earnings (It’s Not Who You Think)
The creative sharing platform Pinterest has been an unanticipated earnings Goliath for several straight quarters. Today, shares of $PINS are up 27% after a killer earnings report sent masses of investors flocking. Some of you will recall that shares of $SNAP popped after a similar earnings report — a sign that stay-at-home orders and COVID-19 antics fueled a rush in these two social media stocks. However, not all earnings reports are made equal. Shares of Twitter saw their gains from the day released after their earnings call suggested user growth was slowing. $TWTR fell 14.5% after hours. Speaking of stay-at-home orders, a large number of people felt inspired to cook more at home. More food meant more leftovers and thus a way to store said leftovers. And where there are leftovers, there are opportunities (and containers). Tupperware is back on the Rippers list for the third time this year. As their name suggests, it might have something to do with plastic food storage. Shares of $TUP are up 11.3% today as their profits quadrupled in Q3 2020 — evidence of another residual of the pandemic. If you’ve ever researched stocks or bonds, odds are you might have used Morningstar. This company provides investment research and management. $MORN saw double-digit growth in their investment data and private equity software in Q3 2020. During COVID-19, an increased volume of investors have gotten into investing; which has in-part fueled this growth. However, another critical element is the investment in early-stage companies (venture capital) — something Morningstar is creating software to facilitate. Shares of $MORN rose 9.5% after their earnings call.
Pinterest is a visual discovery engine people use to find inspiration for their lives, including recipes, home and style ideas, travel destinations and more. People have saved more than 240 billion Pins across a range of interests, which others with similar tastes can discover through search and recommendations. Headquartered in San Francisco, Pinterest launched in 2010 and has hundreds of millions of monthly active users around the world.