Is Now the Time to Buy Pinterest Stock?
The recent nosedive in tech stocks has resulted in many high-quality companies offering compelling buy opportunities. One to consider is Pinterest (NYSE: PINS), the online pinboard and social media business that describes itself as a "visual discovery engine."
Pinterest's stock hit a 52-week low of $27.75 on Jan. 24, and remains around $28. But before tech stocks were battered in 2022, Pinterest shares had already begun sliding after a 52-week high of $89.90 last February.
Its stock price dropped when the company's number of monthly active users (MAUs) declined in 2021 after years of consecutive quarterly growth. While a bearish outlook toward Pinterest is understandable, there's a reason for the drop-off in users, and Pinterest possesses qualities that make it compelling for investors with an eye toward the long term.
Source Fool.com
