PINS

Pinterest, Inc.

21.47
USD
7.89%
21.47
USD
7.89%
16.14 81.77
52 weeks
52 weeks

Mkt Cap 12.08B

Shares Out 562.70M

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Why Pinterest Stock Rebounded Today

What happened Shares of Pinterest (NYSE: PINS) spiked today on seemingly no company-specific news. Instead, it appears that investors are rushing back to the stock following its massive sell-off yesterday. Some comments and a bleak economic outlook from fellow technology company Snap sent social media and tech stocks tumbling yesterday. But Pinterest was rebounding on Wednesday and was up by 8.1% as of 11:43 a.m. ET. So what On Tuesday, the social media company Snap lowered its earnings and revenue estimates for its second quarter as its CEO Evan Spiegel said that "the macro environment has deteriorated further and faster than we anticipated when we issued our quarterly guidance last month." Spiegel's comments sent his company's share price down 42% for the day and caused many social media and tech stocks to tumble along with it. Investors were worried that digital advertising spending could dry up as companies grow increasingly concerned that there could be an economic slowdown in the U.S. amid rising inflation and the Federal Reserve raising interest rates. Those fears sent Pinterest's stock plunging 22% yesterday. But some investors are returning to Pinterest today, likely since they view the recent sell-off as a new buying opportunity. Now what Pinterest's share-price drop yesterday and subsequent rise today is a good example of just how volatile technology stocks are right now. Investors are trying to determine how inflation (at a nearly 40-year high) and the Federal Reserve's interest rate hikes in response to it will affect the broader economy. High-growth stocks have suffered the biggest blows as investors worry about an economic slowdown, and Pinterest's stock hasn't escaped the pain, falling 55% over the past six months. So while today's price bounce is surely welcomed by Pinterest shareholders, investors should expect more volatility from Pinterest and other tech stocks in the short term. 10 stocks we like better than Pinterest When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Pinterest wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 27, 2022 Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pinterest. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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