Pinterest's (NYSE: PINS) stock soared more than 250% in 2020 as it gained over a hundred million new users throughout the pandemic. Its virtual pinboards -- which allow users to share their hobbies, interests, and shopping ideas -- attracted a lot of eyeballs as more people stayed at home. Retailers also uploaded more of their products to Pinterest as shoppable pins.
That growth showcased Pinterest's potential as a visual search engine and a social shopping platform, and differentiated it from other social networks like Facebook (NASDAQ: FB) and Twitter (NYSE: TWTR). Pinterest's focus on hobbies and ideas also insulated it from the controversies regarding fake news and hate speech that plagued Facebook and Twitter.
Image source: Pinterest.
Source Fool.com