(VIANEWS) – The stock of Pinterest (NYSE.PINS) is getting a lot attention lately, but it’s not because they are making a profit. Stock crashed after the company announced less-than stellar second quarter earnings results late last week.
According to The Motley Fool the main reason for the disappointment was the decrease in monthly active users (MAUs). People spent less time on Pinterest when the economies opened up. This resulted in a decrease of 24 millions MAUs and a decline of nearly 18% for stock prices on Friday.
Today, there seems to be correcting a bit. Shares of Pinterest (PINS) jumped 5.06% to $60.01 at 16:43 EST on Tuesday, after five successive sessions in a row of gains. NYSE Composite is rising 0.75% to $16,700.27, after two consecutive sessions in a row of losses. This seems, so far, a somewhat bullish trend exchanging session today.
Pinterest’s last close was $76.84, 14.53% below its 52-week high of $89.90.
Today’s last reported volume for Pinterest is 23408602 which is 101.65% above its average volume of 11608253.
The company’s growth estimates for the present quarter and the next is 285.7% and 38.5%, respectively.
Year-on-year quarterly revenue growth grew by 78.4%, now sitting on 1.91B for the twelve trailing months.
Pinterest’s Stock Yearly Top and Bottom Value
Pinterest’s stock is valued at $60.01 at 16:43 EST, way below its 52-week high of $89.90 and way above its 52-week low of $23.88.
Pinterest’s Moving Average
Pinterest’s worth is way under its 50-day moving average of $73.26 and way under its 200-day moving average of $72.41.
News about Pinterest (PINS) today
Why is everyone talking about pinterest stock?. According to today’s article on The Motley Fool, “The two trends could help Pinterest recapture some of the users it lost during Q2. “, “Even in the unlikely scenario where Pinterest is no longer growing MAUs, the company can still grow revenue from increases in ARPU.”
More news about Pinterest (PINS).