Why Pinterest Stock Soared 19% in August
Shares of newly public social-media company Pinterest (NYSE: PINS) jumped 18.7% in August, according to data from S&P Global Market Intelligence. For context, the S&P 500, including dividends, fell 1.6% last month.
While shares pulled back 11.8% during the holiday-shortened first week of September, they're still up more than 59% since the San Francisco-based company's April initial public offering at $19 per share.
Pinterest's platform allows users to visually share -- by "pinning" images and videos to their boards -- and discover products and projects by browsing what others have pinned. As with social-media titan Facebook, the company makes it money from advertising.
Source Fool.com
