|Bid||26.79 x 1000|
|Ask||26.81 x 1200|
|Day's Range||26.74 - 28.11|
|52 Week Range||23.05 - 35.29|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||28.00|
(Bloomberg Opinion) -- The internet was supposed to render geography irrelevant.(2) But the corporations that dominate the internet have turned out to be remarkably concentrated, geographically speaking. In internet publishing and web search portals, a somewhat ungainly but very important North American Industry Classification System category, 58% of all U.S. jobs in December could be found in just five counties, and more than 70% in the top 10.The location quotient is a measure of how concentrated an industry is in a particular place — a quotient of 1 means it’s right at the national average — and the location quotients in the above table make clear that this particular industry is heavily concentrated in the top five counties, especially the three bordering San Francisco Bay. In San Mateo County, home of Facebook Inc., one is about 30 times more likely to encounter an internet publishing and web search portal employee than in the country in general. Just to the south in Santa Clara County, the heart of Silicon Valley and the home of Google and its corporate parent Alphabet Inc., it’s 27 times more likely. Just to the north in San Francisco County, home of Twitter Inc. and Pinterest Inc., it’s 13 times more likely. The Bureau of Labor Statistics actually didn’t release fourth-quarter San Mateo County data for the sector, presumably because it was so dominated by Facebook that this would amount to disclosing private information, so I backed out the numbers using metropolitan-area data and a little elbow grease. The BLS did release San Mateo County numbers for the third quarter, and the employment total and location quotient were close to those I came up with (the average weekly wage was higher, at $8,872), so I don’t think this was much of a stretch.Related: Where Microbrewery Jobs Are OverflowingFinancial Jobs Aren’t Just in New YorkA Booming Local Health-Care Industry Isn’t Always a Good ThingEmployment location quotients of 30 and 27 are, it should be stressed, quite high, especially for such populous counties (San Mateo County has about 770,000 inhabitants; Santa Clara County nearly 2 million). Wayne County, Michigan, the headquarters of the U.S. automobile industry, had a December employment location quotient for motor vehicle manufacturing of 16.7; the District of Columbia’s location quotient for federal government employment was 13 and change.Santa Clara County did have a dizzying December location quotient of almost 64 for electronic computer manufacturing (thanks mainly, one assumes, to Cupertino-based Apple Inc.) and 40 for semiconductor machinery manufacturing (industry leader Applied Materials Inc. is based in the city of Santa Clara), but those are at least industries that revolve around creating complex, tangible products, which it stands to reason necessitates lots of people working in the same place. The internet is on first impression different: It’s everywhere, and it can be worked on from anywhere. Yet employment at the corporations that shape it is concentrated in a handful of places in the U.S. and has been getting more so. In March 2014, the top five counties accounted for 48% of the nation’s internet publishing and web search portal jobs, and the top 10 62%.Facebook and Google have been expanding overseas, so it’s possible that this focus on U.S. data is somewhat misleading — sadly there’s no global counterpart to the hyper-detailed Quarterly Census of Employment and Wages from which the data in this column (as well as pieces over the past few days on breweries, financial services and health care) is taken. Also, it’s not all about engineers at Facebook and Google: As the lower average wages outside of Silicon Valley indicate, this category also includes journalists working at online enterprises such as BuzzFeed Inc. and Vox Media Inc. in New York and elsewhere. It may also include contract workers slowly going crazy moderating Facebook pages in Phoenix; it’s often hard to know for sure how specific corporate activities are classified by the BLS, because the BLS isn’t allowed to say, but the goal is to assign the people working at a location to the industry sector that best fits what most of them are working on.Traditional media has a tendency toward concentration, too: Los Angeles County has 27% of the nation’s jobs in motion picture and sound recording industries. New York County (aka Manhattan) has 18% of all U.S. periodicals publishing jobs. The two counties together account for 20% of broadcasting employment. But the top-five and top-10 counties’ shares of jobs in these sectors are much smaller than with internet publishing and web search portals, and in motion pictures and periodicals, the very top counties have actually been losing employment share in recent years as media companies shift production to less expensive locales.In their much-cited 2009 review of what drives economic activity and the resulting wealth to “agglomerate” in certain cities, economists Edward Glaeser and Joshua Gottlieb wrote that:The largest body of evidence supports the view that cities succeed by spurring the transfer of information. Skilled industries are more likely to locate in urban areas and skills predict urban success. Workers have steeper age-earnings profiles in cities and city-level human capital strongly predicts income. It is possible that these effects will be reduced by ongoing improvements in information technology, but that is not certain and has not happened yet.It’s presumably the value of this transfer of information among skilled workers that has driven internet companies to concentrate in a few places. High costs in those places and those “ongoing improvements in information technology” might drive dispersion, although there’s no sign of that yet in this data. Politics might, too: As Facebook in particular has been discovering lately, having your employees concentrated in a few places can mean having few friends in Washington. But for now, the work of internet publishing and web search portals remains tightly clustered along the San Francisco Bay, and to a lesser extent the Hudson River and Puget Sound. Geography still seems to matter, a lot.Coming Tuesday: the sectors with the highest location quotients.(1) I realize that this has become something of a straw man, and that by this point far more has been written attacking the idea that the internet renders geography irrelevant than espousing it. But as someone who was at least halfway paying attention in the 1990s, I think it's fair to say that most people in those days assumed that universal connectivity would lead to a spreading out of economic activity rather than a concentration.To contact the author of this story: Justin Fox at email@example.comTo contact the editor responsible for this story: Brooke Sample at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Justin Fox is a Bloomberg Opinion columnist covering business. He was the editorial director of Harvard Business Review and wrote for Time, Fortune and American Banker. He is the author of “The Myth of the Rational Market.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Slack Technologies Inc (NYSE: WORK ) hit the ground running on Thursday following its highly anticipated IPO. Tech companies have had mixed returns when it comes to big-name IPOs in 2019. Here’s a look ...
Pinterest has strong underlying momentum, which has recently attracted some sell-side recommendations. Pinterest does not wish to be labeled as a social media platform, nor be recognized for providing online entertainment. Pinterest is more of a place to get inspired, for users to plan their dreams and seek out visual recommendations.
The next big tech unicorn, work messaging software company Slack, is set to make its market debut Thursday through a direct listing.
Three biotechnology companies, along with recent IPO Pinterest, are among our four charts to watch today. G1 Therapeutics Inc. (GTHX) jumped $4.75, or 24%, to $24.50 on 2.2 million shares traded Tuesday. The move, on over five times its average volume, came on news of encouraging data from the company’s Phase II study of its trilaciclib treatment for metastatic triple-negative breast cancer.
Early-stage biotech companies that have gone public have, on average, raised more money and performed better than biotech companies whose initial public offering came closer to when they brought a product to market.
Investors have been excited for a while now about the potential for a Palantir market debut, even though the company has yet to lay out any specific plans for an initial public offering.
Pinterest stands out against its text and video focused social media peers as it offers a "visual experience at heart" with the purposes of finding products that aren't possible through text, Arounian wrote in the note. This positions Pinterest well for the future of how consumers search for products online and represent a long-term differentiator.
shares rose after Wedbush analyst Ygal Arounian initiated coverage of the San Francisco photo-posting and -discovery company with an outperform rating and $33 price target. "Pinterest is unique to any other media platform in its visual search and discovery toolset and that advertising actually improves the consumer experience," Arounian wrote in a note. Arounian said Pinterest is early in its efforts to monetize the platform and has opportunities to grow the base of international markets from which it makes money.
An effort by Pinterest (PINS) to curb the flow of misinformation on its platform seems to be snowballing into a political debate. Pinterest has kicked off anti-abortion group Live Action from its platform, accusing it of promoting dangerous medical conspiracy theories.
Investing.com - Pinterest climbed Tuesday as investors continued to digest a note from Wedbush Securities hailing the company's "unique" social media platform that puts its on course to top $1 billion in revenue this year.
Shares of Pinterest Inc. are up 2.3% in premarket trading Tuesday after Wedbush analyst Ygal Arounian initiated coverage of the stock with an outperform rating and $33 target. "Pinterest is unique to any other media platform in its visual search and discovery toolset and that advertising actually improves the consumer experience," he wrote. "We view Pinterest as well positioned to capture greater wallet share due to the commerce intent-rich nature of the platform." Arounian said that Pinterest is early in its efforts to monetize the platform and has opportunities to grow the base of international markets that it makes money from. "Many key initiatives like its self-serve ad platform, international localization, shopping, and its catalogues product aren't expected to have meaningful impact until 2020," he wrote of the company's broader efforts. Pinterest shares have gained 4.3% over the past month, as the S&P 500 has risen 1.1%.
Coming into the year, everyone knew that 2019 was going to be a record year for the IPO market. You had big growth technology companies like Uber (NYSE:UBER), Lyft (NASDAQ:LYFT), Palantir, Airbnb, Slack, DoorDash and many others set to go public in a wave of huge tech IPOs that the market hadn't seen anything like since 2000. Beyond the volume of IPOs, Wall Street was also broadly excited for these companies to finally go public, as many investors viewed the big dogs in the 2019 IPO market as a group of long term winners.Fast forward six months. The 2019 IPO market has had massive success. But for different reasons than expected. Two of the larger IPOs of 2019 -- Uber and Lyft -- were duds. Offsetting weakness in those IPOs is tremendous strength from a plethora of smaller IPO stocks.In other words, while the 2019 IPO market is as red hot as everyone expected, it's the small guys that are making it red hot, not the big dogs.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn the long run, the big dogs should catch up. But the smaller players will remain red hot, too. Wall Street is starting to realize just how many hidden gems there were in the 2019 IPO pipeline, and many of these hidden gems are in the first innings of multi-year growth narratives. * 7 Top-Rated Biotech Stocks to Invest In Today With that in mind, let's take a look 5 red-hot IPO stocks that should continue to run higher in the long term. Red Hot IPO Stocks: Beyond Meat (BYND)Source: Shutterstock Return From IPO: 568%At the top of this list is not just the hottest IPO stock of 2019, but the hottest IPO stock of the past decade, too. Plant-based meat producer Beyond Meat (NASDAQ:BYND) went public at $25 per share in early May. Just over a month and one earnings report later, BYND stock is up at $167, representing a more than six-fold increase in less than 30 trading days.Why the huge run up? Plant-based meat is the biggest trend in the food industry. As consumers are becoming increasingly aware of their own health, the environment and animal welfare, they are increasingly shifting away from animal based diets. The first pivot was in dairy. Now, plant-based dairy comprises north of 13% of total dairy sales. The next pivot is in plant-based meat, which comprises less than 1% of total meat sales today but is on an exponential growth track to 10%-plus share in the not-too-distant future.There are two companies at the epicenter of this plant-based meat pivot: Beyond and Impossible. Impossible isn't public. Beyond is. Thus, any investor seeking exposure to the huge plant-based meat trend has only one option: buy BYND stock. This dynamic, coupled with the fact that Beyond continues to report sizzling growth across all its channels, has pushed BYND stock up nearly 500%.This rally will inevitably cool. All trends are overhyped on the onset. The plant-based meat shift is no different. As the hype train cools, BYND stock will gave back some of its parabolic gains. But in the long run, plant-based meat is the future, Beyond Meat projects as a very important player in the plant-based meat market, and Beyond's growth trajectory will remain robust for a lot longer. That robust growth will ultimately drive BYND stock higher in the long run. Zoom Video (ZM)Source: ZoomReturn From IPO: 174%Next up, we have a technology company that is very quickly becoming an important player in the secular growth enterprise video conferencing market. Zoom Video (NASDAQ:ZM) went public at $36 per share in late April. The stock doubled in its first day of trading, trended higher over the next few weeks, and then shot up another 20% after its first earnings report as a public company. Net net, ZM stock is up 174% from its IPO price.Why the big run up in ZM stock? With Zoom, you have an exceptionally rare combination of big revenue growth, huge long-term potential and profitability. In the business world, there are a lot of really small companies out there growing very quickly, with a ton of room to keep growing for a lot longer. But most of those companies are running huge losses while they are spending an arm and a leg to grow. Meanwhile, there are also a bunch of bigger companies that are still growing very quickly and are profitable, but which have largely maxed out their market, and the runway for further growth is limited.Zoom takes the best of both of those companies and leaves out all the rest. Zoom is growing very quickly. They reported 100%-plus revenue growth last quarter. They are also very small, controlling less than 5% of the video conferencing market. On top of that, because the company operates at 80%-plus gross margins and controls spend well, Zoom is already profitable. * The 7 Best Tech Stocks to Buy for the Second Half of 2019 Investors can't get enough of this trifecta of big growth, long runway and profitability. In the near-term, ZM stock is slightly overvalued and overstretched and needs to retreat. But after that near-term retreat, the long-term uptrend will resume, mostly because these is visible runway here for Zoom to keep growing profits at a robust rate over the next several years. Pinterest (PINS)Source: Shutterstock Return From IPO: 67%The digital advertising world has a lot of viable players, many of whom are already public. Nonetheless, investors were excited to see Pinterest (NYSE:PINS) go public in late April. The stock went public at $17 per share. It zoomed to $35 by the end of April, and even though a disappointing earnings report has caused shares to come back to reality, PINS stock is still up more than 65% from its late April IPO price.The run-up in PINS stock is pretty easy to understand. Pinterest is a huge platform, with nearly 300 million monthly active users around the world. That number is still growing. By a lot. Last quarter, monthly active user growth was 22%. Further, those 300 million monthly active users are somewhat self-filtering, since the Pinterest platform itself attracts a unique and somewhat homogeneous demographic. Even further, it's easy to put visual ads on Pinterest, since everything is pretty much already a picture of a product or a place.Considering all that, then Pinterest should have no trouble building out its still nascent advertising business. At scale, that advertising business should be nearly as big as the ad business over at Twitter (NYSE:TWTR) since the two platforms have comparable size in terms of monthly active users. Yet, Twitter has a market cap of $30 billion. Pinterest has a market cap of $15 billion.Thus, the long-term growth potential for PINS stock -- assuming the company can successfully build out its ad business -- is enormous. Jumia (JMIA)Source: Shutterstock Return From IPO: 62%One of the lesser known but more explosive IPOs of the year has been that of African e-commerce giant Jumia (NASDAQ:JMIA). Jumia went public at $14.50 per share in early April. By late April, JMIA stock was trading hands near $50. The stock has since settled down amid a few short-seller reports, but it's still up more than 60% from its early April IPO price.The core growth narrative here is very simply and straightforward. Jumia is being hailed as the Amazon (NASDAQ:AMZN) of Africa, mostly because Jumia is Africa's most important and dominant e-retailer with a rapidly expanding logistics arm. Africa is the last frontier of the technology revolution. Internet penetration across the continent remain well below the global average, and the digital economy (including e-commerce) is still nascent. This won't remain true forever. Eventually, the tech revolution will come to Africa -- just like it came to Asia -- and it will produce an enormous growth opportunity.Jumia is at the center of all that growth. They are the biggest player, growing super quickly, with a retail footprint and logistics network that will be hard for any foreign competitor to replicate. As such, investors have looked at Jumia as a long term play on the secular growth Africa e-commerce market, and JMIA stock has consequently risen. * 4 Semiconductor Stocks to Sell But there have been some short-seller reports circulating which basically call Jumia a fraud. These claims have knocked the stock from its post-IPO highs. But these claims don't seem to hold much water in the big picture. In that big picture, regardless of near term noise, Jumia is the most important and biggest player in the rapidly expanding and potentially enormous Africa e-commerce market. In the long run, if Jumia can maintain its leadership position in that market, JMIA stock will head way higher. Revolve (RVLV)Source: Shutterstock Return From IPO: 128%The newest stock on this list is millennial-focused online fashion retailer Revolve (NASDAQ:RVLV). In early June, Revolve priced its IPO at $18 per share. RVLV stock opened trading at $25, up 40%, and closed the day at $34, marking a 90% move higher in the stock's first trading day.What's the all the hype about? Revolve is attacking the fashion game using a unique, more modern approach which has allowed the brand to win over millennial customers. This approach includes a few key pillars. First, they are online only, so that aligns with the e-retail trend. Second, they leverage social networks and influencers to grow reach and drive awareness, so that aligns with the fact that millennials spend most of their time watching their favorite influencers in various social media channels. Third, everything is data-driven based on millennial-centric data, so that allows Revolve to deliver an elevated millennial-focused shopping experience with a more relevant merchandise assortment.Put that all together, and it's no wonder Revolve has turned into one of the millennial generation's favorite retail platforms, that grew sales by over 20% through the first half of 2018.In the long run, this stock should head higher. Millennial consumers are growing up and making more money, meaning they are becoming an increasingly important driver of retail consumption. Those millennial consumers love Revolve. Thus, as they become bigger spenders over the next several years, they will spend more on Revolve, and Revolve's sales will continue to grow at a healthy rate. The company also operates around 50% gross margins, with positive and rising operating margins, so the outlook for robust profit growth is quite favorable.Ultimately, that robust profit growth should drive RVLV stock higher in the long run.As of this writing, Luke Lango was long UBER, LFYT, BYND, PINS, JMIA and AMZN. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post 5 Red-Hot IPO Stocks to Buy for the Long Run appeared first on InvestorPlace.
Facebook (FB) Watch has now more than 720-million monthly and 140-million daily users, who spend at least one minute on Watch.
You're likely to have used their websites to improve things in your life. Now it's time to improve your wallet and buy internet stocks Pinterest (NYSE:PINS), Stitch Fix (NASDAQ:SFIX) and Etsy.com (NASDAQ:ETSY). That could possibly get you in on the next, next big thing on Wall Street. Let me explain.Most days in the internet space, it's all about tech giants Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB) or maybe Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL). And with U.S. authorities now trying to crack down on those massive companies' business practices, that's even more true today. But it would be a mistake to see those internet stocks as the end all, be all.The fact is, while shopping on Amazon, socializing on Facebook or watching Alphabet's YouTube or searching Google are increasingly important to most people these days, internet stock up-and-comers PINS, SFIX and ETSY are making their own impact on consumers.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 And if you've ever thought what it might be like to own the next, next big thing, the price charts and recent earnings reports suggest now is the time to consider investing in these three. Here's why. Internet Stocks to Buy: Pinterest (PINS)Recent IPO PINS stock is the first of our three internet stocks to buy. Pinterest is a wildly popular visual discovery platform which collects and shares ideas and activities to empower and improve its users' own experiences.Admittedly, the company's first earnings report as a publicly traded company didn't go over so well. Shares plunged nearly 13.5% following the report. But I believe Wall Street is being near-sighted.Pressure on shares tied to concerns over wider-than-forecast, but improving, losses trumped this internet stock's better-than-expected revenue growth of more than 52% year-over-year, and Pinterest's slightly above-views range guidance for its full-year outlook.After roughly a month to digest the report, PINS stock is trading back inside of the post-earnings reaction after a challenge of its all-time lows. As shares of this internet stock have also formed a small uptrend off the deep correction, there's reason to see this rally as having legs without being exposed to unnecessary risk.Buy Recommendation: Buy PINS stock through $27.50 with an initial stop-loss below $25.75. Etsy (ETSY) Our next internet stock to buy is ETSY. The company operates a commerce platform for businesses and individuals to make, sell and buy goods on and offline. An earnings beat and in-line, double-digit sales growth took a backseat to a wrongful death lawsuit after a baby suffocated while wearing a necklace purchased on Etsy.We still don't know the verdict on the case, but investors have passed judgment already. Technically, ETSY stock is sporting a very friendly looking price chart for bulls.On the weekly time frame, shares of this internet stock are forming a corrective cup pattern after successfully testing an irregular base-on-base formation. And as that price consolidation developed on top of a breakout from a massive deep base -- momentum traders aren't likely to experience any buyer's remorse. * 7 High-Quality Cheap Stocks to Buy With $10 Buy Recommendation: Buy ETSY stock above this week's high of $71.80. I'd suggest an initial stop-loss below $67. This minimizes losses and avoids potential pattern failure within the right side of the cup base. Internet Stocks to Buy: Stitchfix (SFIX)The last of our three internet stocks to buy is SFIX stock. It has been less than two weeks since Stitch Fix, an online personal styling service, knocked earnings and sales out of the ballpark. And as InvestorPlace's Dana Blankenhorn dutifully noted, the report all but proved the bullish narrative. The company's business model is working.What's also hard at work are shares of this internet stock, as the price action tries to piece together the bull case for investors.Since SFIX stock's initial gap reaction, shares have been in a holding pattern, consolidating slightly above levels where it sat exactly one year ago. With the small congestion also forming with the support of the 200-day simple moving average, a momentum entry looks like the way to position in Stitch Fix.Buy Recommendation: Buy SFIX stock above the pattern high of $30.54. I'd set my sights on $35 as a spot for initial profit-taking. That's within the prior earnings report's volatile price action. And relative to a blended stop beneath $27, it also looks like good business off and on the price chart.Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. . For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 * 7 Value Stocks That Are Flying Under the Radar * 6 Mouth-Watering Fast Food Stocks for Growth Investors Compare Brokers The post 3 Hot Internet Stock Trades appeared first on InvestorPlace.
(Bloomberg) -- An effort by the social media company Pinterest to limit the spread of medical conspiracy theories has blocked one of the most prominent anti-abortion groups in the U.S. from sharing its content on the site. And it’s put the social media company squarely in the middle of today’s culture wars.The anti-abortion organization, Live Action, and conservative activist James O’Keefe allege Pinterest targeted the group for its abortion stance, not for the reasons the company claims. They say Pinterest’s actions -- first putting Live Action’s web domain name on a list of blocked pornography sites, then banning the organization altogether -- are part of a larger effort by social media companies to stifle conservative voices.The dust-up is the latest in a wave of conservative complaints of social media bias. Other big tech companies like Facebook and Twitter have also been accused by politicians and conservative media of stifling their viewpoints, something the companies have vehemently denied.“This is censorship,” said O’Keefe, who is known for a series of sting operations against liberal groups.In an emailed statement, Pinterest’s press office said it took action against the organization “several months ago for violating our misinformation policy related to conspiracies and health and not for any other reason.”Abortion PoliticsFacebook in particular has been at the center of social media debate. In early May, the company banned conspiracy theorist Alex Jones, as well as other far-right media personalities, including former Breitbart editor Milo Yiannopoulos. While conservatives complain of censorship, liberal groups argue the opposite: that social media sites carry too much misinformation.The names involved in the Pinterest saga are familiar ones in abortion politics.Live Action says it has one of the most dominant anti-abortion presences on the web, with more than 3 million viewers and readers. O’Keefe and Live Action president Lila Rose are both known for efforts to implicate Planned Parenthood clinics in misdeeds, by using hidden microphones or cameras and pretending to seek illegal or questionable kinds of help.O’Keefe’s stings have also targeted the now-defunct ACORN -- which had attracted Republican ire with its minority voter registration drives -- and National Public Radio, as well as Planned Parenthood. The efforts have been criticized for selective and misleading editing of results.Pinterest has had a policy of blocking content related to health conspiracies since 2017, according to the company. It employed it to block anti-vaccination sites beginning in February, which is also when the company put Live Action’s website on a list of blocked porn sites, according to documents provided to O’Keefe by a Pinterest employee. Facebook and YouTube have also cracked down on anti-vaccination content in recent months, claiming many of the posts create a real-world danger to those who may see them and avoid necessary medical treatments. According to documents provided to O’Keefe, the porn list also includes the conservative Zero Hedge and PJMedia websites. Sites on the list can’t be shared on Pinterest. The company did not respond to a request to verify the leaked documents, including the portions of the list O’Keefe published on his website, Project Veritas.Trouble PinningLive Action’s Rose said she had been hearing from people on the organization’s email list that people were having problems “pinning” Live Action content on Pinterest. “We had wondered if something was up,” she said. She learned about the porn list designation from O’Keefe.In an email to O’Keefe, Pinterest said the Live Action site had been “actioned” for “misinformation related to conspiracies and anti-vaccination advice," and not porn.Live Action is agnostic on vaccination, although it has published stories saying aborted fetuses have been used in making some vaccines, Rose said. The website includes a variety of posts calling abortion dangerous to women. The Pinterest email to O’Keefe also said the porn list was mislabeled.“Sometimes our internal tools have legacy names for the technology that enforces some of our policies,” the email said. “This technology was named years ago to combat porn, and has since expanded to a variety of content despite retaining its original internal name. We are updating our internal labeling to make this clear.”O’Keefe and Rose said Pinterest took Live Action off the porn list after getting a call for comment from Project Veritas.Hours later, though, Live Action got an email saying it had been suspended: “Your account was permanently suspended because its contents went against our policies on misinformation,” said the email provided by Rose. “We don’t allow harmful misinformation on Pinterest. That includes medical misinformation and conspiracies that turn individuals and facilities into targets for harassment or violence.”While conservatives complain of censorship, liberal groups argue the opposite: that social media sites carry too much misinformation.To contact the reporters on this story: Margaret Newkirk in Atlanta at email@example.com;Kurt Wagner in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Anita Sharpe at email@example.com, Steve MatthewsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
On Thursday, Slack will be the latest tech company making its market debut. Unlike other tech IPOs like Uber and Lyft, Slack is going the route of direct listing. Professor Michael Wade of the IMD Business School joined The Final Round to discuss.
This is the year of the IPO, but what if you can invest before a company's public debut? Yahoo Finance's Zack Guzman & Heidi Chung, along with Women’s Wear Daily Business Reporter Kaley Roshitsh discuss with Netcapital Founder & CEO Jason Frishman.
Shares of Pinterest are seeing a pop after Wedbush initiated Pinterest, saying it's 'different than other social media platforms'. Moneygram is also up 130% after the company announced its teaming up with cryptocurrency company Ripple. Yahoo Finance's Ines Ferre breaks down the market action live from the NYSE.