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.
Pinterest Inc (NASDAQ:PINS) has recently been highlighted in The Street Sheet, a weekly newsletter covering the world of business and finance, which praised it as an appealing social media platform for marketers, with considerable potential for growth.
Pinterest has struggled over the past few years as the end of the COVID-19 epidemic decreased social media usage rates and rising interest rates have dampened growth stocks.
The company's stock is currently trading at $28, which is a shocking 68% lower than its February 2021 record high of $89, The Street Sheet recognized.
Pinterest's stock is presently trading at 41 times its predicted profits, according to Benzinga Pro data. Pinterest will report its first quarter 2023 financial result on Thursday, April 27, after market close.
Pinterest (PINS) 1-day price chart and % change from all-time high: TradingView
Read Also: Check Out What Whales Are Doing With PINS
The Bullish Catalysts for Pinterest, According to The Street Sheet:
- Last summer, Pinterest named Bill Ready, a former executive at Alphabet Inc. (NASDAQ:GOOGL)(NASDAQ:GOOG), as its new CEO.
- The company is boosting its business outside the U.S., which may result in more revenue gains.
- Pinterest becoming a potential takeover target.
- Activist investment group Elliot Management purchased a stake in the social networking platform.
- 450 million monthly active users.
- International expansion potential: International users account for 80% of all users, but just 20% of revenues.
- The average revenue per user is $25 in the U.S. and Canada, while it's only $1.5 internationally.
- Wells Fargo analyst Brian Fitzgerald predicts Pinterest's sales might exceed $6 billion by 2027, allowing it to become profitable.
Read Next: Trading Strategies For Netflix Stock Before And After Q1 Earnings
Photo: Shutterstock
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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