Why Pinterest Stock Was Down 21% in March
March was a rough month for shareholders of Pinterest (NYSE: PINS), as the stock was down 20.8% according to data provided by S&P Global Market Intelligence. The COVID-19 pandemic caused most stocks to be down during the month. But if you peruse Pinterest's press releases and SEC filings, you won't find any coronavirus-related news to explain why this stock has lost so much value.
But there's a simple explanation. Pinterest generates revenue from advertising, and there's reason to believe companies are spending less on advertising during this time.
Image source: Getty Images.
Source Fool.com
