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Why Pinterest Stock Was Punished Today

Why Pinterest Stock Was Punished Today

Shares of image-browsing platform Pinterest (NYSE: PINS) were punished on Friday after the company reported financial results for the first quarter of 2023. At 11:45 a.m. ET, Pinterest stock was down 18%. In Q1, Pinterest had 463 million monthly active users (MAUs), the second-highest number that the company has ever seen during a quarter -- only the first quarter of 2021 was better.