Why Pinterest Stock Is Up 19% Through the First Half of the Year
After crashing during the coronavirus sell-off in March, shares of Pinterest (NYSE: PINS) bounced back and finished the first half of the year up 19%, according to data from S&P Global Market Intelligence.
While the company's advertising business has been challenged by the crisis, investors have enthusiastically returned to growth stocks like Pinterest, believing that the crisis will accelerate a shift in advertising spending to digital platforms like the virtual pinboard.
As you can see from the chart below, the stock gave up nearly half of its value from the start of the year before climbing out of the chasm.
Source Fool.com
