Why Pinterest Is Tumbling Another 12% This Week
Shares of Pinterest (NYSE: PINS) are down 12.2% from last Friday's close, according to data from S&P Global Market Intelligence, as doubts about valuation for the once high-flying stock continue to hang over its shares.
During the pandemic as people were herded into their homes, browsing decorating ideas was all the rage. Pinterest reached about 459 million monthly active users by the end of last year, two-thirds of whom were female, making the tech growth company an advertiser's dream destination. It's not so much that so many people were pinning their ideas, but rather this was an audience looking to spend money to transform those ideas into reality.
Source Fool.com
