Pinterest Earnings: Will They Be a Trick or Treat on Thursday?
Investors are likely pinning their hopes on Pinterest (NYSE: PINS) delivering them a treat this Halloween in the form of good third-quarter 2019 results. The San Francisco-based social media company is slated to report its results after the market closes on Thursday, Oct. 31.
Pinterest, which operates a platform for sharing visual images, is going into its report on a mixed note. On the positive side, last quarter, it beat Wall Street's revenue and earnings expectations. On the other hand, its stock has been hit hard over the last few months, which we can attribute largely to investors selling shares ahead of the company's lockup period expiration, which occurred earlier this month. When these periods expire -- typically six months after a company's initial public offering (IPO) -- insiders are permitted to sell shares.
Pinterest stock is down 30% from its high set in mid-August, though up nearly 35% (though Oct. 28) from its April IPO price of $19.
Source Fool.com
