Reported 3 months ago
Pinterest's stock fell nearly 10% after the company projected lower-than-expected revenues for the third quarter, highlighting challenges from increased competition in the digital advertising space. While the overall digital ad market is recovering, Pinterest noted weaknesses in demand from food and beverage advertisers, raising concerns about continued growth amidst shifting ad spending trends. Analysts suggest this update could impact not only Pinterest but also other smaller advertising firms.
Source: YAHOO