Bank of America’s Downgrade Causes Gap Down in Pinterest Stock … – Best Stocks

Pinterest, Inc. experienced a gap down on its stock price after Bank of America lowered its price target from $30 to $29. This disruption occurred before the market opened on Friday, causing a decrease in the stock’s worth from $27.27 to $24.50. As of now, Pinterest shares are being traded at $22.90 with a trading volume of 12,604,359 shares.

Pinterest centers its operations around managing image collections centered on themes like events, interests and hobbies providing users with a pinboard-style photo-sharing website that acts as a visual search engine for finding ideas and inspiration.

Various large investors have bought as well as sold shares of PINS recently such as Acadian Asset Management LLC increasing their position by 21.9% in the first quarter valued at $334,000 after acquiring an additional 2,437 shares in the last quarter among others like MetLife Investment Management LLC and Raymond James Trust N.A.

Given that hedge funds and other institutional investors own about…

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