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Earlier, PINS said Apple’s Inc. (AAPL) iOS privacy changes had affected its “ability to track user actions off our platform and connect their interactions with on-platform advertising.” Also U.S. payments giant PayPal’s cancellation of its acquisition of PINS caused its share price to decline more than 12% on the news. PINS delivered better-than-expected revenue and earnings, but its monthly user base decline in its last reported quarter made investors anxious. The company’s Monthly Active Users (MAU) declined 10% in the United States, while its global MAU increased only marginally. The stock plunged in price following the quarterly release.
The stock has slumped 49% over the past year and 46% year-to-date to close its last trading session at $36.05. Over the past month, PINS shares have declined 22.5% in price. The stock hit a 52-week low of $34.07 in its last trading session and is currently trading below its 50-day and 200-day moving average, indicating an overall downtrend.
