Why Pinterest Stock Dropped 11.5% in February
Pinterest (NYSE: PINS) stock fell 11.5% in February, according to data from S&P Global Market Intelligence. That's not as bad as it might seem at first glance when you consider that the S&P 500 index dropped 8.2% last month. The market sold off on concerns that COVID-19, the illness caused by the recent coronavirus outbreak, could blunt global economic growth.
Shares of the image-sharing platform operator have moved 2.1% lower in the first three trading days of March bringing their year-to-date 2020 gain down to 6.1% through Wednesday. This compares with the broader market's negative 2.8% return.
Image source: Getty Images.
Source Fool.com
