Shares of Pinterest (NYSE:PINS) took a dive mid-morning in the wake of comments attributed to company at the Goldman Sachs Communicopia + Technology Conference which spooked investors and snapped a multi-day winning streak for the stock.
The company warned of the tariff risks to small businesses, who might be forced to raise prices, while large retailers face margin pressures from increased tariff-related costs.
The stock also seems to have been undermined by posts reverberating through social media pertaining to Amazon’s (AMZN) launch of Lens Live, an AI-powered upgrade to Amazon Lens which allows shoppers to search products through a visual search similar to Pinterest Lens (NYSE:PINS). Although the Lens Live announcement was several days ago, it is currently gaining traction at the detriment of Pinterest (NYSE:PINS).
Pinterest (PINS) shares were down as much as 9% from the intra-day high, but have since recouped nearly half its early loss.
