Started a holding in Pinterest

The two main disrupters of e-commerce dominated by Amazon and E-Bay at the present time are Pinterest and Shopify. On October 31st after hours Pinterest posted quarterly figures which disappointed many analysts, although still showing reasonable growth.

I wrote that the price looked more like 20 than 25 yesterday, before Wall Street opened. In the event the stock started trading either side of 19 and a best order secured a small position @ 19.13. The stock closed at 20.86 but it is very difficult to predict which way the wind will be blowing next week.

From a technical perspective there remains a big gap to fill, but this is going to take time. For the moment I will look to either trade this small position or build on further weakness.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.