Pinterest Shares Rise on Strong Prime Day Sales and Falling Yields

Yahoo Finance··Read original
2▲3 ▼0Impact / 5
Summary · why it matters

Pinterest shares rose 1.9% in afternoon trading, supported by record Prime Day sales and a decline in Treasury yields. U.S. online sales reached $8.3 billion, up 5.3% year-over-year, signaling robust consumer demand that encourages advertisers to maintain spending on digital platforms. The 10-year Treasury yield fell below 4.5%, lowering the discount rate on future cash flows and boosting valuations for consumer internet companies. The stock later settled at $19.85, up 1.6% from the previous close.

Impact on assets 3

Communication Services▲
Pinterest Inc
PINS
▲ PositiveDemandMonetaryrelevance

Record Prime Day sales signal robust consumer demand, encouraging advertisers to maintain spending on Pinterest's platform.

Artificial Intelligence▲
Alphabet Inc Class C
GOOG
▲ PositiveMonetaryrelevance

Falling Treasury yields lower discount rates, boosting valuations for consumer internet companies like Alphabet.

Spatial Computing / AR/VR▲
Meta Platforms Inc.
META
▲ PositiveMonetaryrelevance

Falling Treasury yields lower discount rates, boosting valuations for consumer internet companies like Meta.