Advertisement
Singapore markets open in 48 minutes
  • Straits Times Index

    3,154.69
    +9.93 (+0.32%)
     
  • S&P 500

    5,022.21
    -29.20 (-0.58%)
     
  • Dow

    37,753.31
    -45.66 (-0.12%)
     
  • Nasdaq

    15,683.37
    -181.88 (-1.15%)
     
  • Bitcoin USD

    61,257.66
    -2,427.69 (-3.81%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,847.99
    +27.63 (+0.35%)
     
  • Gold

    2,384.60
    -3.80 (-0.16%)
     
  • Crude Oil

    82.82
    +0.13 (+0.16%)
     
  • 10-Yr Bond

    4.5850
    -0.0740 (-1.59%)
     
  • Nikkei

    37,961.80
    0.00 (0.00%)
     
  • Hang Seng

    16,251.84
    +2.87 (+0.02%)
     
  • FTSE Bursa Malaysia

    1,540.42
    +5.42 (+0.35%)
     
  • Jakarta Composite Index

    7,130.84
    -7,164.81 (-50.12%)
     
  • PSE Index

    6,450.04
    +45.07 (+0.70%)
     

Why Pinterest Stock Was Down This Week

Why Pinterest Stock Was Down This Week

Week to date, shares of Pinterest (NYSE: PINS) were trading down 12.4% as of 12:46 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence. Pinterest and other social media companies make their money from advertising revenue, so a "deteriorating" economic picture, as Snap described it, means less demand from brands that can't count on consumers to buy their advertised goods. Year to date, Pinterest shares are down 45%.