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Why Pinterest Stock Was Down This Week

TheMotleyFool

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Week to date, shares of Pinterest (NYSE: PINS) were trading down 12.4% as of 12:46 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence. Social media stocks across the board sold off earlier this week after Snap revised its outlook down over a worsening macroeconomic environment.

Pinterest and other social media companies make their money from advertising revenue, so a "deteriorating" economic picture, as Snap described it, means less demand from brands that can't count on consumers to buy their advertised goods. Year to date, Pinterest shares are down 45%.