Shares of Twitter, Snap soar amid Facebook ad boycott – MarketWatch

Battered by hundreds of advertisers boycotting content on its platform this month, Facebook Inc.’s
FB,
+1.14%

apparent losses have led to stock gains for rival social media companies. Shares of Snap Inc.
SNAP,
+5.78%

were up 5% in late-morning trading Wednesday, and is up 56% in 2020. Twitter Inc.
TWTR,
+10.54%

shares, meanwhile, have advanced 6%, pushing it up 10% this year. Twitter shares also received a boost after the company listed a job posting that it was launching a subscription platform with the code name Gryphon. Facebook’s stock is down 1%. Facebook executives, including Chief Executive Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg, met with boycott organizers late Tuesday amid an advertising pause from Coca-Cola Co.
KO,
-0.80%
,
Verizon Communications Inc.
VZ,
-0.19%
,
Starbucks Corp.
SBUX,
-0.96%
,
and Unilever [s:UL].