Social engagement has rebounded since May, although it is still below the "shelter-in" levels seen in the fourth quarter of 2020, Morgan Stanley said, citing its Alphawise survey.
Shares of streaming, gaming and social media stocks, including Pinterest Inc (NYSE: PINS) are trading lower as a rise in yields weighs on growth sectors for the session.
Cathie Wood-led money managing firm Ark Invest on Wednesday sold more shares in Coinbase Global Inc (NASDAQ: COIN) even as the largest U.S. cryptocurrency exchange's stock continued to regain ground after reporting dismal third-quarter results earlier this month.