Additionally, the company increased its global monthly active users by 9% year-over-year, to 454 million. Still, its second-quarter results showed that the company is benefiting from multiple, positive trends.įor instance, Pinterest recorded quarterly revenues of $613 million, representing 125% year-over-year growth. Pinterest is not slated to report its earnings again for another month. On the contrary, the company’s fundamental data should encourage investors to consider taking a long position in the stock. None of those factors should be viewed as problematic for Pinterest in the long-term. September was especially harsh on stocks that could be labeled as high-momentum names. Some have also theorized that growth stocks have declined generally. So what caused Pinterest’s share price to decline? I alluded to the cooling-off period after the massive run-up, which is to be expected. Just keep your eyes on the prize and if you already own the stock, doing nothing could be your best strategy, even if it’s psychologically difficult to do so. PINS stock should return to its $85 resistance level sooner or later. But there’s no need to become a victim of a ruthless market. Its long-term trend is still positive – and besides, emotionally weak traders usually give up their shares when stocks fall. What’s needed when it comes to PINS stock is a dose of perspective. Yesterday the share price closed at $49.62. The summer was particularly brutal, as PINS stock slumped to $57 in early August. Remember, stocks don’t just keep going up forever, even those of companies that are doing well. In a stunning rally, PINS stock catapulted from around $12 in March 2020 to a resistance level of around $85 in February and April of 2021.Īfter booking 600% returns, it’s normal and natural for a stock to cool off for a while.
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