Pinterest is worth your interestPinterest #PINS is a fast-growing company with favorable demographics, the stock has dropped in price while outperforming expectations.
Pinterest (PINS) debuted on the public markets less than a year ago at a price of $23.75. Since that time, Pinterest has dropped in price by a great percentage and do not thing for a moment that the coronavirus is to blame 🙂
The interesting part is that Pinterest has actually been profitable and has beaten earnings estimates in the last quarters. So why is it that Pinterest is dropping strongly, why? Because fundamentals are not that important when trading a supply and demand strategy.
I’ve happened to read that some analysts are claiming that Pinterest #PINS is a buy for anyone with at least a two-year time horizon. Well, it may be that Pinterest stock will be revalued in two years time, but why buying Pinterest now and lock in part of your capital in a stock that is dropping like a rock reacting to super strong weekly supply zones?
It makes no sense how some analysts and web sites are recommending buying Pinterest stock to hold it for two years when the stock is in a clear downtrend.
Take a look at Pinterest #PINS supply and demand weekly timeframe analysis. There is a strong weekly supply around $25 per share, these supply zones act like magnets to price, a price level where there are a lot of interest by professional investors.
