FILE PHOTO: Pinterest app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Shares of Pinterest Inc fell over 18% on Friday to its lowest in over a year, after the company warned of slowing user growth in the United States, its largest market.
At least 14 brokerages cut their price target on the stock, which fell to $58.75 in early trading. If the losses hold, about $8.5 billion would be swiped off its market capitalization which currently stands at about $37.4 billion.
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