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Twitter Faces Fines Of Up To $250 Million For Violation Of User Data Laws
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Twitter Inc. (NYSE:TWTR) has a market cap of $29.97 billion and there are 226,406 investors on Robinhood owning the stock. The company is being investigated by the Federal Trade Commission for allegedly contravening laws preventing social media platforms from using users' data to target ads. The company reported on Monday that it expects a loss of between $150 million and $250 million in settlement to the complaint about the violations of laws from 2013 to 2019.
The FTC could fine the company up to $250 million regarding the recent hack where accounts of celebrities were compromised to promote a crypto scam. Twitter said that the hack might have harmed accounts and people affected and market sentiment about the effectiveness of its security measures. According to a Florida prosecutor, the hack was masterminded by a 17-year-old who netted around $100,000 from the bitcoin scam.
Zynga Reports A 47% Growth In Revenue In Q2
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Another popular Robinhood stock is Zynga Inc. (NASDAQ:ZNGA) which is owned by 221,751 investors on the platform and has a market cap of $10.81 billion. The company topped revenue and bookings expectation in Q2 as the number of people turning to mobile games surged during the pandemic. The company reported a 47% growth in revenue to $452 million while booking also increased by 38% to $518 million. Net loss in the quarter was $150 million or $0.16 per share.
The exceptional results were mainly due to people turning to mobile social gaming for entertainment and online games sales were up 61% YoY to $388 million. The company has reviewed its full-year revenue outlook to $1.8 billion from $110 million. Zynga has also indicated that it will buy 80% of Rollic in a $168 million deal.
Cronos Expects Sales Revenue Of $9.5 Million In Q2
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Also, Cronos Group Inc. (NASDAQ:CRON) is another popular stock on Robinhood whose market cap is $2.43 billion and owned by 217,881 investors on the trading platform. The cannabis operator is expected to report its Q2 earnings on August 6 and expectations are high considering it topped earnings estimates by 385.71% in the last quarter.
Cronos has been one of the few cannabis operators that have gotten their strategy right as it remains lean even with investment from Altria Group. In Q1 its cannabis sales were $8.4 million and it reported net income of $75.7 million. In Q2 analysts expect the company to post sales of $9.5 million and a net loss of around $18.7 million or $0.04.
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The post US Most Popular Robinhood Stocks: $TWTR $ZNGA $CRON appeared first on The Market Signals.
COMTEX_368974552/2700/2020-08-06T08:49:03
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