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Pinterest Stock Surges. Will This Rally Finally Last?
Share prices of Pinterest (NYSE: PINS) 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. Nonetheless, the stock still trades down about 21% over the past year, as of this writing.The stock has shown rally-like signs in the past year, only for the rally to eventually sputter. This is the second time this year that the stock has risen by 15% or more at some point directly after it has reported earnings.Let's look at Pinterest's most recent results and guidance to see whether this rally can stick.Continue reading
Share prices of Pinterest (NYSE: PINS) 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. Nonetheless, the stock still trades down about 21% over the past year, as of this writing.
The stock has shown rally-like signs in the past year, only for the rally to eventually sputter. This is the second time this year that the stock has risen by 15% or more at some point directly after it has reported earnings.
Let's look at Pinterest's most recent results and guidance to see whether this rally can stick.
