Pinterest’s Surge Triggers Cautious Reviews From Wall Street
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Pinterest Inc. slid after the social media company’s surge since its initial public offering drew a number of cautious reviews from Wall Street analysts.
The stock fell as much as 6.8% on Monday after the banks that underwrote the company’s IPO started their coverage. While most see room for growth, Pinterest’s unicorn valuations left them hesitant to recommend buying the shares, which had advanced 53% from April’s listing through Friday’s close.