Diamonds and Dogs

5/24/22

Zoom Video (ZM) one of the few tech stocks higher. The video conferencing giant is up 6% following earnings and better than expected guidance. Revenue rose 12.3% to $1.07 billion. The enterprise business continues to show strong momentum while the consumer experience is more volatile. Zoom is optimistic it can build a durable, post-pandemic growth profile through multiple growth levers to deliver high-teens growth

Oh Snap (SNAP). The Snapchat social media giant is down 41% after the company warned of a rapid deterioration over the past month in the "macroeconomic environment" for online advertising. Rivals like Facebook, Twitter, Google etc are lower as well on concerns of digital advertising and ad revenue softness.

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