Pinterest (PINS) Stock Drops 9% After CEO Flags International Headwinds
TLDR
- Pinterest stock fell more than 9% on Wednesday, hitting its lowest intraday level since May.
- CEO Bill Ready said at the Goldman Sachs Communacopia + Technology Conference he would not update guidance and flagged new international pressures.
- New European rules limiting Asia-based cross-border sellers are creating a Q3 headwind.
- CFO Julia Brau Donnelly is departing October 30, adding to investor uncertainty.
- Wall Street holds a Moderate Buy on PINS with a $28.82 average price target, implying 57% upside.
Pinterest (PINS) dropped more than 9% on Wednesday, touching its lowest intraday price since May. The selloff came after CEO Bill Ready spoke at the Goldman Sachs Communacopia + Technology Conference and offered little comfort to investors looking for reassurance.
Ready opened by saying he was โnot updating or addressing guidanceโ and that Pinterest does not give intra-quarter trend updates. That set the tone for what followed.
He flagged fresh pressure in international markets, pointing to new European rules that are limiting Asia-based cross-border sellers. Ready described it as โsimilar to what happened in the U.S. with tariffs.โ The company is now rebuilding its international sales model along the lines of its U.S. playbook, but Ready warned this will create โnear-term painโ before any long-term benefit kicks in.
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