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The company described the new product as a series of live, original, and shoppable episodes featuring creators right on Pinterest.
Pinterest Inc (NYSE: PINS) stock closed Monday trading at $45.26, up 1.39%. The gains extended during Tuesday’s premarket trading session with approximately +0.35%. The image sharing and social media platform announced it has introduced a new feature dubbed Pinterest TV to help online shoppers.
Notably, the company described the new product as a series of live, original, and shoppable episodes featuring creators right on Pinterest. The new feature will work in handy with online shoppers during the festive season. Moreover, the Covid pandemic has inclined people towards online shopping.
“Pinterest TV episodes are refreshed each weekday and will be recorded and available for Pinners to view on-demand, and save and rewatch later,” the company noted.
The company clarified that episodes will begin airing on November 8, 2021, in the United States on both android and iOS devices. Notably, Pinterest TV is set to launch with top content creators and brands including Christian On, Unfail My, Tom Tries – Tom Daley who is an Olympic gold medalist in diving and knitting guru, Manny Does, and Buy This – Host and comedian Robyn Schall.
“I have used Pinterest as my source of inspiration for quite some time, whether it was for my wedding or knitting ideas, and I am so excited to be bringing the inspiring ideas on Pinterest to life by hosting my own live series on Pinterest TV. My show is titled Tom Tries… and I will essentially be embarking on an odyssey of trying new things! Each Wednesday, starting November 10th at 3pm PST, I will be paired up with a different grandma or grandpa who is also an expert crafter/Creator and we will spend thirty minutes trading crafting secrets!” Tom Daley highlighted, Olympic gold medalist.
PINS Stock amid the News on Pinterest TV
Pinterest stock has dropped approximately 22%, 31%, and 20% in the past year, YTD, and three months respectively through Monday. The company recently reported a huge loss of its users especially from the United States following coronavirus easing. The troubles did not end there for the social media giant, since PayPal Holdings Inc (NASDAQ: PYPL) declined to purchase it for a deal worth $45 billion.
The company has since seen its market capitalization drop to approximately $28 billion at the time of reporting. A study conducted by MarketWatch indicates 32 ratings gave PINS stock an average rating of Over. However, the company will have to prove to its investors beyond reasonable doubts on how it intends to turn around in the next few quarters.