Why Pinterest And Roblox Shares Are Diving Today

Pinterest Inc PINS shares are trading lower by 4.54% to $19.33 after Goldman Sachs Friday maintained a Neutral on the stock and lowered its price target from $35 to $24.

Roblox Corp RBLX shares are trading lower by 5.64% to $28.78 after Goldman Sachs Friday downgraded the stock from Neutral to Sell and lowered its price target from $39 to $28.

Pinterest and Roblox shares are also trading lower in sympathy with the broader market following worse-than-expected May CPI data. Rising inflation has caused economic concerns and has also raised expectations for further Fed policy tightening.

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According to data from Benzinga Pro, Pinterest has a 52-week high of $81.77 and a 52-week low of $16.14. Roblox has a 52-week high of $141.60 and a 52-week low of $21.65.