Pinterest Executives Keep Jumping Ship. Should You?
Pinterest (NYSE: PINS) stock slipped following the release of its fourth-quarter earnings report. Revenue grew just 4%, missing estimates, and its profits plunged.
Like other social media stocks, Pinterest is getting hurt by the slowdown in the advertising market, and that's expected to last at least through the current quarter. However, there's a bigger reason for investors to be concerned about the stock.
Todd Morgenfeld, the CFO and head of business operations, is leaving the company on July 1 to pursue other opportunities. Morgenfeld was instrumental in bringing the company to where it is today, guiding its IPO and serving as an architect of its business strategy. Pinterest said Morgenfeld would help ensure a smooth transition as the company searches for its next CFO.
Source Fool.com
