Pinterest’s Mood Swings

Pinterest had lost over 50% of its market value from February highs heading into Thursday’s earnings report, but investors now seem to think the company’s shares have finally bottomed. They will have to hope its user base has, too.

After losing 24 million monthly users from the first to the second quarter, Pinterest said Thursday it had shed 10 million more. The image-sharing company reported monthly active users of just 444 million for the third quarter—a whopping 16 million shy of Wall Street’s estimate.