Share prices of Pinterest (PINS 0.03%) soared after the social media company reported strong results on May 8. They got another boost a few days later on news of easing tensions in the U.S.-China trade war.
Pinterest has now publicly apologized for the wave of moderation issues that have swept across the social network over the past few weeks, leading to account bans and Pin removals that users said were unwarranted. In posts published to social media Tuesday, the company took responsibility for the issue, saying that an “internal error” led to some users' accounts mistakenly being deactivated.
Pinterest reported solid results across most metrics in Q1, although the relative strength of its business is likely to become more apparent as the year progresses. While tariffs have created uncertainty, the impact on Pinterest's business does not appear to be material at this stage. Pinterest is attractively priced when considering the strength of its balance sheet, solid growth prospects and...
Christine Martinez, who was a friend of two of Pinterest's three co-founders, sued the company in 2021 for breach of implied contract and other claims.
Shares of Pinterest Inc (NYSE:PINS) are up 10.7% at $30.83 at last glance, after the social media platform issued a stronger-than-expected current-quarter forecast.
US stocks rise as trade optimism boosts sentiment. S&P500 climbs with Lyft, Pinterest, and Microchip among hot stocks to watch heading into China talks.
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