Why Pinterest Stock Bounced Over 3% Higher Today

Shares of visual search and social media site Pinterest (NYSE: PINS) were up 3.3% today as of 2:35 p.m. ET. The stock is down 41% over the past three-month stretch alone as the mood has soured on Pinterest's prospects for average user and engagement growth. While it's still a richly valued business even after enduring an absolute drubbing in 2021, the U.S. Federal Reserve has indicated higher interest rates are in order this year to try and tame inflation.