Pinterest Stock Tanks After CEO Blames Tariffs for Weak Results
Pinterest stock dropped over 20% after weak quarterly results and soft guidance, as CEO Bill Ready said tariffs hit spending from major retail advertisers.
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BTC$62,686.00-1.67%
ETH$1,666.62-3.16%
USDT$0.9987-0.01%
USDC$0.9996-0.01%
XRP$1.10-1.88%
SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
Pinterest stock jumped after announcing a $1 billion investment from Elliott and plans for $2 billion in near-term share buybacks.
Pinterest stock dropped over 20% after weak quarterly results and soft guidance, as CEO Bill Ready said tariffs hit spending from major retail advertisers.
Shares of Meta, Snap, and Pinterest fell in premarket trading after Google's ad revenue in Q4 missed Wall Street's projections.
Pinterest's shares climbed in Monday's premarket after RBC Capital analysts hiked their price target on the stock to $46.
Shares of Pinterest rose over 19% on Tuesday after an impressive Q3 2023 earnings report.
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