Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, November 8, 2019

Article Excerpt

PINTEREST INC., $20.06, symbol PINS on New York, is a hugely popular social media platform that relies on images to create user interest. For that reason, it holds immense appeal for some investors. The users of the company’s site “pin” items they like to their personal pages so that their friends and followers can view their curated lists on subjects such as recipes, clothing, household goods and places to travel. The site now has more than 322 million monthly active users. The social media company, and its investors, have seen its stock lose more than 20% of its value since November 1, 2019. That drop came after the announcement that sales in the latest quarter had fallen short of consensus expectations. As well, Pinterest expects its revenue for all of 2019 to be between $1.1 billion and $1.115 billion—that’s below the consensus estimate of $1.12 billion. At one point, the shares were trading below the April 2019 IPO price of $19. The stock…

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