Pinterest (PIN) Plunge as Tariff Uncertainty Cuts Retail Ad Spend

Pinterest (PIN) fell over 20% in premarket trading on February 13, 2026, as the company revised its quarterly revenue outlook lower due to U.S. retailers scaling back ad spending amid tariff-induced uncertainty. The guidance follows a mid-December workforce reduction of under 15%, with CFO Julia Donnelly warning that restructuring could disrupt near-term performance. The decline intensified pressure on a business already facing softer retail advertising, with at least 16 brokerages cutting price targets and the stock potentially losing over $2 billion in market value if the premarket losses hold. The company trades at 9.49x forward earnings, compared with 9.42x for Snap, 29.99x for Reddit, and 21.41x for Meta.