Why Pinterest Shares Are Sliding Today

Pinterest Inc PINS shares are trading lower Tuesday morning in sympathy with Snap Inc SNAP after the company issued guidance below the low end of its previously-issued forecast.

During its most recent earnings report, Snap guided for second-quarter revenue growth of 20% to 25% year-over-year. The company said it expected adjusted EBITDA to be between breakeven and $50 million. 

"The macroeconomic environment has deteriorated further and faster than anticipated," Snap said Monday in a Form 8-K filing. As a result, the company now expects to report second-quarter revenue and adjusted EBITDA "below the low end" of its guidance range. 

Pinterest and Snap both operate social media platforms. The Pinterest platform acts as a visual discovery engine where people find inspiring creators, shop new products and seek out ideas.

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PINS Price Action: Pinterest shares have traded between $18.32 and $81.77 over a 52-week period.

The stock was down 16.3% at $18.90 at press time, according to data from Benzinga Pro.

Photo: Jason Howie from Flickr.