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

apparent losses have led to stock gains for rival social media companies. Shares of Snap Inc.

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

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.
Verizon Communications Inc.
Starbucks Corp.
and Unilever [s:UL].