Pinterest committed 'cardinal sin' for newly public company, Barron's says.
Pinterest released its first quarterly earnings report as a public company this week and the number lefts investors wanting, Al Root writes in this week's edition of Barron's. In giving weak guidance, Pinterest "violated a cardinal rule" of earnings conference-call management, the author notes, adding that a company always blow out the first quarter after an initial public offering or a big merger. "If you can't impress Wall Street out of the gate, then the Street will assume something ominous is brewing," he says. Overall, Root believes Pinterest does not look like a broken stock and a pullback of some kind was probably inevitable. The author would not be surprise to see Pinterest trade back above $30 a share, where it was before the earnings release. [Reference Link]:[https://www.barrons.com/articles/pinterest-committed-a-cardinal-sin-for-a-newly-public-company-51558141899?mod=past_editions]
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|Date:||May 18, 2019|
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