Pinterest Maxed Out Sales and User Growth -- Investors Sold It Anyway
One month ago, rising tech star Pinterest (NYSE: PINS) provided investors with a preview of its first-quarter earnings: "Pinterest preliminarily expects revenue for the quarter ended March 31, 2020 in the range of $269 million to $272 million." Global monthly active users (MAUs) was expected to fall in the range of 365 million to 367 million.
Investors cheered the news, bidding up Pinterest 12% initially, then continuing to bid up the shares over the days and weeks to come. But after a month of such gains, Pinterest finally announced its official numbers on May 5: The company maxed out its projected sales range ($272 million in revenue) and maxed out its user base as well (367 million).
And investors sold the stock anyway.
Source Fool.com
