Bond.az reports that shares of Pinterest fell 6.2% to $18.70 in mid-day trading, driven by renewed concern over the company's profitability and mounting legal scrutiny.
Pinterest posted a GAAP net loss of $74 million for Q1 2026, swinging back into the red despite revenue growing 18% to $1,008 million and monthly active users rising 11% to 631 million.
A securities fraud class action lawsuit has been filed, with a deadline of May 29, 2026, to apply for lead plaintiff. The legal overhang is adding to investor anxiety.
The broader market is also weak, with the S&P 500 down 0.5%, Dow Jones off 0.4%, and NASDAQ declining 0.9%.
Pinterest shares hit an intraday low of $18.69, well below the opening high of $20.41 and far from the 52-week high of $39.93.
