20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of Pinterest Inc. (NYSE:PINS) fell 6% in Thursday’s regular trading session and also tanked more than 19% in the extended session.
What Happened: Pinterest, an online product and idea discovery platform, reported better-than-expected earnings results for the second quarter on Thursday. Quarterly revenue grew 125% year-over-year to $613 million.
However, Pinterest’s stock fell as investors reacted negatively to the image-sharing company’s weaker-than-expected growth in monthly active users (MAUs) and its bearish revenue guidance for the third quarter.
Pinterest’s global MAUs grew 9% year over year to 454 million but was weaker than expected by analysts. The online-pinboard company noted that “engagement headwinds” continued in the third quarter as its U.S. MAUs have declined about 7%, as of July 27.
See also: Buy Pinterest (PINS) Stock
Further, Pinterest projects third-quarter revenue to grow in the “low-40% range” year over year, far lower than the growth recorded in the second quarter. The company did not provide guidance on third-quarter MAUs.
See Also: 6 Facebook Analysts On Q2 Earnings: Ads, Video And More
Why it Matters: Pinterest, which is seeing high interest from retail investors, saw a surge in traffic last year as people spent more time online amid the pandemic restrictions. However, the company’s user growth has slowed this year as the economy reopens and people spend less time at their homes.
The slowdown in user growth has been offset by the recovery in ad spending this year amid the economic reopening.
Price Action: Pinterest closed more than 6% lower in Thursday's regular trading session at $72.04 and further fell more than 19% in the after-hours session to $58.30.
Read Next: Why Facebook Stock Dropped Lower Today Despite Earnings Beat
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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