Why Pinterest Stock Plunged This Week

·2 min read
Why Pinterest Stock Plunged This Week

Pinterest (NYSE: PINS), the image discovery-based social platform, was getting hit on multiple fronts this week as social media giant Facebook warned about slowing revenue growth, and PayPal Holdings (NASDAQ: PYPL) said it was no longer interested in acquiring Pinterest after Bloomberg reported last week that the two parties were in talks for a deal at $70 a share. PayPal's announcement seemed to be the main reason the stock sunk. The fintech giant said on Monday that it was no longer pursuing a buyout of Pinterest.

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