Why Pinterest Stock Was Down This Week

Why Pinterest Stock Was Down This Week
·2 min read

Week to date, shares of Pinterest (NYSE: PINS) were trading down 12.4% as of 12:46 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence. Pinterest and other social media companies make their money from advertising revenue, so a "deteriorating" economic picture, as Snap described it, means less demand from brands that can't count on consumers to buy their advertised goods. Year to date, Pinterest shares are down 45%.