PINS is trading at $19.47 (-5.30%) following news of a pending securities fraud class action lawsuit and broader market weakness.
- The legal action carries a May 29 lead plaintiff deadline, while the S&P 500 and Dow are pressured by inflation concerns following a hotter-than-expected Producer Price Index report.
- Today's selloff follows a volatile week for the stock, which saw a 5.03% drop on May 6 and a 6.86% recovery on May 5.