Here's Why Pinterest Is Plunging on Thursday

The stock market was having a weak day on Thursday, with all three major market indexes firmly in the red shortly after the opening bell. However, social media stock Pinterest (NYSE: PINS) was a major underperformer, with shares down by 8% at 10 a.m. ET after falling by more than 10% earlier in the trading session.

There isn't any company-specific news behind today's drop. Rather, social media stocks are trading sharply lower after Meta Platforms (NASDAQ: FB) -- Facebook's parent company -- reported disappointing fourth-quarter results Wednesday afternoon.

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Source Fool.com