Pinterest Stock Slides on S&P Inclusion and CTV Acquisition as $270M Traded Volume Ranks 322nd

Market Snapshot

Pinterest (PINS) closed on December 23, 2025, , . , ranking it 322nd in market activity for the day. This performance followed a period of heightened interest driven by strategic developments and index inclusion, though the decline signaled lingering caution among investors.

Key Drivers

The inclusion of Pinterest in the S&P MidCap 400 index on December 22, 2025, marked a significant mechanical catalyst for the stock. S&P Dow Jones Indices implemented the change ahead of the market open, triggering incremental demand from index-tracking funds and ETFs. While the move primarily reflects liquidity mechanics rather than fundamental shifts, it amplified short-term attention amid a backdrop of recent volatility. The addition aligns with Pinterest’s broader efforts to enhance its visibility in the market, though the stock’s post-inclusion performance highlighted ongoing skepticism about its long-term growth trajectory.

A second critical factor was Pinterest’s announced acquisition of tvScientific, a advertising platform, on December 11. The deal, expected to close in early 2026, aims to expand Pinterest’s performance advertising capabilities into the CTV space. By integrating tvScientific’s measurement tools with Pinterest’s “intent-rich” user data, the company seeks to position itself as a cross-screen advertising solution. Analysts have framed this as a strategic move to capture performance budgets typically reserved for search and social platforms, though the lack of immediate financial impact and regulatory uncertainties tempered immediate enthusiasm.

The stock’s recent trajectory also reflects divergent analyst sentiment. , citing the tvScientific acquisition and shopping integrations. Conversely, , citing concerns over “” and AI-driven competition. Other firms, including Morgan Stanley and Stifel, reduced price targets, reflecting softer revenue trends and macroeconomic pressures. These conflicting assessments underscore the market’s mixed view of Pinterest’s ability to sustain growth in a competitive advertising landscape.

Macroeconomic headwinds further weighed on investor sentiment. Tariff-related pressures on retailer margins have led to cautious ad spending in North America, Pinterest’s core market. The company’s CFO highlighted “pockets of moderating ad spend” in the U.S. and Canada, while China-based retailers like Temu and Shein scaled back marketing budgets amid trade policy uncertainty. These challenges are compounded by competition from larger platforms, such as Meta and TikTok, which leverage AI-optimized ad stacks to capture performance budgets. Analysts emphasized that Pinterest’s bull case hinges on its ability to prove durable monetization in North America and execute on its CTV integration without margin surprises.

Looking ahead, investors are focused on Pinterest’s February 2026 earnings report and the tvScientific acquisition’s progress. Key metrics include advertising demand resilience, international monetization trends, and the effectiveness of Performance+ in driving ROI for advertisers. While the S&P inclusion provided a temporary liquidity boost, the stock’s performance in 2026 will ultimately depend on Pinterest’s execution against these strategic and operational benchmarks. The current valuation, , reflects both discounted expectations and the potential for recovery if the company can address macroeconomic and competitive pressures while scaling its performance advertising offerings.