Why Pinterest Stock Beat the Market in September
During a tough month for the stock market in September, Pinterest (NYSE: PINS) stock not only managed to beat the market, but it even posted a positive return.
Last month, stocks fell sharply over concerns about rising interest rates and the prospect of a recession, but the social media company bucked the headwinds in growth stocks and gained 1% for the month, according to data from S&P Global Market Intelligence. The company benefited from positive analyst chatter as well as reports that activist investor Elliott Investment Management may be pushing for a sale of the company.
As the following chart shows, Pinterest stock was erratic during the month, but it managed to avoid the S&P 500's steady decline.
Source Fool.com
