I almost forgot I even owned shares of Pinterest (NYSE: PINS). The visual search and social media platform hired CEO Bill Ready over the summer of 2022, and rumors emerged late in the year that the company was an acquisition target (largely owing to the stake taken by activist investment firm Elliott Management). Nevertheless, content with the early progress from Ready and the top team, I decided to leave it alone and come back later to see what progress was made.

Turns out the progress has been pretty good, and Pinterest is a financially sustainable business again. Let's see where the company could go from here.

The most surprising bit of news to me from last quarter's update was that Pinterest has actually re-achieved its all-time high monthly average user (MAU) count -- which was last set in the early months of 2021 during the pandemic, before falling off. MAUs came in at 482 million, a few million more than the previous Q1 2021 peak and a steady climb from lows in early 2022 (as the world was reopening from the pandemic and time spent at home started to ease).

Continue reading

Source Fool.com