Yahoo Finance's Jared Blikre breaks down how stocks began trading on Thursday.
Once a high-flying growth stock driven by pandemic tailwinds, Pinterest (NYSE: PINS) has been beaten down more than 60% over the last year. After all, it's not often that you can find a growth stock trading near value prices. Chances are if you have an idea, someone on Pinterest has done something similar.
Upsetting signs of inflation and corresponding fear of rising interest rates to combat it are changing how the stock market feels about high-growth fintech stocks. The road ahead of these rapidly growing businesses is probably going to get a little rougher, but that isn't a good reason to abandon them altogether. In fact, at their heavily depressed prices, these stocks have a pretty good chance to deliver market-beating gains to patient investors.