Bharat Bhise, always well aware of
the on-goings in the online investment world, was asked this question this
week: is it too late to buy stocks or shares in Pinterest?
The “bulletin board” website, which
is ubiquitous for artists, planners, brides, and fashionistas, among others, is
enjoying a boom as one of the hottest stock offerings of 2019. The hype was
real: it was a vertical
rise for Pinterest for several sessions from the
moment it had debuted in the market. Though there was a disappointment in the
third quarter of last year, there may still be potential for a
comeback.
The
Social Media Grab
For Bharat Bhise, social media
investments have certainly enjoyed their time in the light. Facebook
(NASDAQ:FB), Twitter (NYSE:TWTR), and Snapchat (NYSE:SNAP) already took to the
stratosphere when their shares went public. So there’s plenty of interest
remaining for Pinterest, although some investors may still be a little wary.
Shares report for Pinterest
(NYSE:PINS) has risen almost
20% in quarterly figures, with across-the-board
gains. It soared over the expectations in revenue and
earnings, proving that Wall Street’s hesitation on how well it would do was
strongly misguided. Which begs the question: is it too late to get a piece of
it?
The
Next Steps
The market
certainly took advantage, says Bharat Bhise. As a serious
contender in the social media race, Pinterest is building back and rallying
after some lost momentum in December. Currently, it’s earning just under the
January high of $24. It’s not too late to take the opportunity to get some of
Pinterest’s power, however. The market projects that over 50% retracement can
bring the shares up to $27.11, and 61.8% retracement takes it to $29.40. That
makes the elusive $30 not out of the question.
Bharat Bhise explains that
Pinterest can maintain its power if it keeps things simple and if the market
cooperates with it.
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