Pinterest: Biggest 2020 Bet On IPO Flops
Pinterest ended the year down over 20% from their initial trading price of $23.75.
A lot of high profile 2019 IPOs flopped.
The social media stock has the most promising valuation and path to profits.
My target is still $15 with a forward EV/S multiple of 5.3x.
A broken IPO can be one of the best ways to buy a great company at a reasonable price. With 2019 being a year where prominent IPOs failed to live up to expectations, Recode highlighted the stocks that struggled in 2019 and unfortunately most of the stocks on the list aren't appealing after their busted IPO due to weak financials. One stock stands out with my negative investment thesis about to turn bullish.
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