Why Pinterest Stock Rebounded Today

·2 min read
Why Pinterest Stock Rebounded Today

Shares of Pinterest (NYSE: PINS) spiked today on seemingly no company-specific news. Instead, it appears that investors are rushing back to the stock following its massive sell-off yesterday. On Tuesday, the social media company Snap lowered its earnings and revenue estimates for its second quarter as its CEO Evan Spiegel said that "the macro environment has deteriorated further and faster than we anticipated when we issued our quarterly guidance last month."

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