In retrospect, it's pretty clear that the 700% rally Pinterest (NYSE: PINS) shares dished out during the early days of the pandemic was simply too much, too fast. Everyone knew everyone else was spending a lot of time at home -- and online -- but the situation didn't quite merit this degree of gain for the social media platform's stock.
However, Pinterest's steep pullback from its early 2021 peak is also overdone.
Things are changing now. The stock's logged a small, choppy gain since the middle of the year, cutting its loss to only 73% from last year's high. The glimmers of hope driving shares higher, however, still aren't fully reflected in Pinterest's price. You may want to step in before the market starts connecting the dots.
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1 Growth Stock Down 73% to Buy Right Now