Pinterest is trading today at roughly the same price at which it ended the third quarter of last year, when new users were flooding onto the platform. The problem is, lately, those users are leaving.
With Pinterest’s stock now down nearly 58% from the highs it hit in February, the bull case has been the belief that user attrition ended in the third quarter, with upside ahead for new initiatives in commerce. Fresh data show that may be a dream deferred.
