Down 75% From Its High, 3 Reasons Why This Growth Stock Is Worth Buying Today

Pinterest (NYSE: PINS) has gotten crushed over the past year, falling more than 70% from its all-time high set in July 2021. The stock surged when COVID-19 lockdowns forced millions of people to stay indoors and move online for both work and entertainment. As lockdowns subsided, Pinterest also saw a decline in monthly active users (MAUs). 

However, the deep sell-off over the past year is likely overdone. Many long-term investors see the company's success coming from increased monetization of its large user base, rather than from user growth itself. The company has done great on this front over the past year, and that progress continued in its first quarter.

Pinterest showed its monetization strategy is working, despite tough times. Combined with its cheap price, you might want to add shares of Pinterest to your portfolio. 

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Source Fool.com