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Jim Cramer - Mad MoneyPinterestPINSBUYJun 29, 2022

It's a profitable company that's been slammed along with all tech stocks. They just replaced their chair-CEO is moving to executive chair and are bringing in a new CEO, a fintech veteran from Google. The move makes a lot of sense. Pinterest makes most of their money from digital ads but want to pivot into digital shopping.

Jim Cramer - Mad Money

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WEAK BUY

They have new management which knows how to monetize. We need more advertising names beside Meta and Alphabet.

DON'T BUY

This has been grinding at current levels since February and hasn't challenged their 100-day moving average in 1.5 years. Yes, he gets that they're at a strategic crossroads between e-commerce and social media--and it's an interesting position--but it hasn't paid off.

COMMENT

Activist Elliott Mgt. buying a huge position is a strong endorsement of the new CEO. The CEO has raised forward guidance out there and he must be very confident to do that. This is impressive for a new CEO to do this.

COMMENT

PayPal should buy this. Makes a ton of sense.

BUY ON WEAKNESS

No one is worried about megacap tech stocks and that's a worry. Snap, Twitter and Pinterest, also Lyft have slid around 25% from their highs, and these are buying opportunities in the coming months.

HOLD

It's down 10% in the past month. Hold. It offers growth, which is why PayPal tried to buy it.

BUY ON WEAKNESS

Buy on the dip? He likes it. Users and advertisers love Pinterest. It has none of the baggage of Facebook.

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