• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Snap (SNAP)

Snapchat app seen on the corner of mobile phone.
Ascannio/Shutterstock

Snap stock was doing just fine this year — up until this earnings season.

The camera and social media company reported disappointing Q3 results on Thursday. While revenue grew 57% year-over-year to $1.07 billion, it missed Wall Street’s expectation of $1.1 billion.

Apple’s iPhone privacy changes disrupted Snap’s advertising business. Management also warned that global supply chain interruptions and labor shortages could dampen advertising demand over the short-term

Snap shares plunged 23% in after-hours trading on the bearish outlook, but Wood moved quickly to pounce on the decline.

On Friday, Ark scooped up 230,323 shares of Snap.

Meet Your Retirement Goals Effortlessly

The road to retirement may seem long, but with WiserAdvisor, you can find a trusted partner to guide you every step of the way

WiserAdvisor matches you with vetted financial advisors that offer personalized advice to help you to make the right choices, invest wisely, and secure the retirement you've always dreamed of. Start planning early, and get your retirement mapped out today.

Get Started

Twitter (TWTR)

Twitter is an American microblogging and social networking service - San Francisco, California, USA - 2020
Michael Vi/Shutterstock

Snap’s plummeting price triggered a sell-off in other social media companies, too.

In after-hours trading Thursday, both Facebook and Twitter dropped about 5%. Even Google parent company Alphabet slipped more than 2%.

On Friday, Wood’s Ark picked up 448,944 shares of Twitter.

According to the latest earnings report, Twitter had 211 million monetizable daily active users in Q3, 5 million more than what it had in Q2.

Revenue totaled $1.28 billion, up 37% year over year and in line with analyst expectations.

Of course, if you’re on the fence about jumping into social media stocks when they’re facing so much uncertainty, you can build your own tech portfolio just by using digital nickels and dimes.

Skillz (SKLZ)

Skillz company logo on a website with blurry stock market developments in the background, seen on a computer screen through a magnifying glass.
Dennis Diatel/Shutterstock

With a market cap of around $4.4 billion, mobile gaming company Skillz is much smaller than any of the names mentioned above.

But the stock has gotten a lot of investor attention, partially due to its swingy nature.

At the beginning of this year, Skillz was trading at $18 per share. It soared to well above $40 in early February before losing upward momentum. By mid-October, the shares had fallen to less than $10.

Unlike its volatile stock price, Skillz’s business has been trending in a steady direction: upward.

In fact, the company has generated 22 consecutive quarters of top-line growth. Its Q2 revenue of $89.5 million represented a 52% increase from a year ago.

Skillz shares have perked up a bit in recent days, likely fueled by investor excitement over Wood’s strong bullishness.

Last Thursday, Ark Invest bought over 2.1 million shares of the company.

This 2 Minute Move Could Knock $500/Year off Your Car Insurance in 2024

Saving money on car insurance with BestMoney is a simple way to reduce your expenses. You’ll often get the same, or even better, insurance for less than what you’re paying right now.

There’s no reason not to at least try this free service. Check out BestMoney today, and take a turn in the right direction.

Get Started

A creative alternative

Exposition Andy Warhol at Caixaforum building - Catalonia / Spain
Giorgiolo/Shutterstock

Investors like to follow fund managers for stock picks. But stocks aren’t the only thing you’ll find in the portfolios of Wall Street tycoons.

Many of them also invest in fine art.

Contemporary artwork has already outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.

Investing in fine art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Wood.

But with a new investing platform, you can invest in iconic artworks, too, just like Jeff Bezos and Bill Gates do.

Sponsored

Follow These Steps if you Want to Retire Early

Secure your financial future with a tailored plan to maximize investments, navigate taxes, and retire comfortably.

Zoe Financial is an online platform that can match you with a network of vetted fiduciary advisors who are evaluated based on their credentials, education, experience, and pricing. The best part? - there is no fee to find an advisor.

About the Author

Jing Pan

Jing Pan

Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

What to Read Next

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.