Thursday’s Headlines: Twitter Sees Dollar Signs

Thursday’s Headlines: Twitter Sees Dollar Signs

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Cloudflare (NET) +6.2%

Roku Inc. (ROKU) +5.6%

Trupanion (TRUP) +4.3%

Upstart Holdings (UPST) +3.8%

Boston Beer Co. (SAM) +3.5%

Moving Down ⬇️

Duluth Trading (DLTH) -3.6%

GoPro (GPRO) -3.1%

Texas Roadhouse (TXRH) -2.4%

MercadoLibre (MELI) -2.3%

Chuy's (CHUY) -2.2%

1. Twitter (TWTR) will soon be cashing in a $1.05 billion check after deciding to sell its MoPub mobile advertising network to AppLovin, sending shares bouncing 2% higher yesterday. The micro-blogging site stated that the intention behind the sale is to allow it to push forward with its own revenue products, while the proceeds from the acquisition will also help it with its goal of reaching $7.5 billion in revenue by the end of 2023. Twitter acquired MoPub in a $350 million all-stock deal back in 2013 to boost its ability to generate revenue from mobile ads. With Apple’s (AAPL) new iOS update negatively impacting digital ad sales for advertisers, this might be the perfect time for Twitter to cash in. See more here

2. Roku (ROKU) stock is on the rise after a consumer report, sponsored by the company, explained that the media manufacturer might be only at the start of its journey. Titled 'The Streaming Decade', the study found that almost 90% of Canadian consumers class themselves as TV streamers, suggesting that streaming video "has reached a tipping point", representing massive opportunity for ad growth. Interestingly, over 50% of those who partook in the survey explained that they expect to watch just as much TV as they did during the pandemic, even when restrictions loosen, signaling that Roku should have a huge audience in the future to attract advertisers. Investors are excited because they know Roku is a leading manufacturer in the streaming space and its brand-agnostic business model will allow it to capitalize on the trend as other services, including Netflix (NFLX) and Disney (DIS)+, soar in popularity. Read more on the story here

3. Following in line with the good news day, Pinterest (PINS) has rolled out exciting new features for advertisers. In a bid to boost advertising revenue on its platform, the image sharing site has launched a “slideshow for collections” feature that pulls products from companies’ catalogues and then automatically turns them into a “collections ad.” The addition will reportedly make it easier for advertisers to produce video-like content tailored to individual users so these shoppers are encouraged to purchase more items at once. As online shoppers on Pinterest have 85% bigger baskets than those using other platforms and spend twice as much per month, any feature that makes it easier for them to see more products will drive ad sales for the company. Check out more on the story here.