Down 70% From Its High, Is Pinterest Stock a Buy?

With inflation at a 40-year high, many investors are concerned about the economy; some even see a recession on the horizon. So they've sought to protect their money by selling richly valued growth stocks in favor of less-speculative assets. That domino effect partly explains why Pinterest (NYSE: PINS) stock has fallen more than 70% from its high.

Of course, if that was the only reason for its decline, the stock would probably be a screaming buy. But the situation is more complicated. Pinterest saw engagement drop in 2021, and if that trend continues, this social media company could be in serious trouble.

That being said, management has outlined a solid growth strategy that could solve the problem and set Pinterest on a better trajectory.

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Source Fool.com