2023-04-19 07:45:00 ET
Without a doubt, some of the most popular growth tech shares got absolutely hammered when inflation started rearing its ugly head in 2021. Pinterest (NYSE: PINS) was among these stocks. With investors refocusing on companies' bottom lines, it made sense that those businesses perceived as "safer" have become more popular recently.
But now, Pinterest shares are down an eye-watering 68% from their 2021 peak, and that's despite rising an impressive 29% over the past 12 months (a lot better than the Nasdaq Composite 's 9% drop). Does this renewed market optimism mean it's time to buy the stock now ?
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Pinterest Is Down 68% From Its High. Time to Buy?