We are investigating Pinterest, Inc. (PINS) (“Pinterest” or the “Company”) for potential violations of the federal securities laws.
In April 2019, Pinterest completed its initial public offering, selling 75 million shares of common stock priced at $19.00 per share. Then, on May 16, 2019, Pinterest reported its financial and operating results for the first quarter of 2019. Pinterest reported a loss per share of $0.33 on revenue of $201.9 million, compared to analyst expectations of a loss of $0.11 per share on revenue $200.7 million. On this news, Pinterest’s stock price fell $4.16 per share, or 13.48%, to close at $26.70 per share on May 17, 2019.