Why Pinterest Stock Is Trading Lower Today
Portfolio Pulse from Ryan Gustafson
Pinterest, Inc. (NYSE:PINS) shares are trading lower alongside other social media stocks due to overall weakness in tech-related sectors on rising yields. Rising treasury yields have put pressure on the market, with the rate-sensitive two-year Treasury yields increasing by 15-basis points, climbing over 5%. This has made it more difficult for companies to attain capital, driving the market downward. Pinterest shares are down over 4%.
September 06, 2023 | 7:27 pm
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Pinterest shares are trading lower due to rising treasury yields and overall weakness in tech-related sectors. The shares are down over 4%.
Rising treasury yields have put pressure on the market, making it more difficult for companies to attain capital. This has led to a downward trend in the market, affecting tech-related sectors including social media stocks like Pinterest.
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