PINS Trade on May 6, 2020 09:35 from Cklamb: Tradervue User Stock Trades.

PINS
Statistics
Total gain/loss: $4.97 Largest gain: $4.97 (show)

Average daily gain/loss: $4.97 Largest loss: $0.00
Average daily volume: 280 Average per-share gain/loss: $0.04
Average winning trade: $4.97 Average trade gain/loss: $4.97
Average losing trade: n/a Trade P&L standard deviation: n/a
Total number of trades: 1 Profit factor: n/a
Number of winning trades: 1 (100.0%) Average hold time (winning trades): 13 minutes
Number of losing trades: 0 Average hold time (losing trades): 0
Max consecutive wins: 1 (show)
Max consecutive losses: 0
Average position MFE: $7.22 Average position MAE: $-15.60

Intraday Fundamentals
• Pinterest shares were down sharply in after-hours trading Wednesday after the social-media platform posted first-quarter results in line with its recent guidance, but warned it could see pressure on gross margins as user growth accelerates while advertising remains soft.
• For the quarter ended March 31 , the company (ticker: PINS) reported revenue of $272 million , up 35% from a year earlier and slightly ahead of Wall Street's $270.1 million . Global monthly active users rose 26% to 367 million. That is all consistent with the company's preliminary results announced April 7 , which projected revenue of $269 million to $272 million , and active users of 365 million to 367 million.
• The company lost $141 million on a GAAP basis in the quarter, with an adjusted loss in earnings before interest, taxes, depreciation and amortization of $53 million . On a per-share basis, the company had a non-GAAP loss of 10 cents , a penny higher than the Wall Street analyst consensus forecast.
• "We began 2020 on strong footing. The spread of Covid-19 has certainly had an impact on our business and the businesses of our advertisers, but we remain optimistic about the future," CFO Todd Morgenfeld said in a statement. "While we've been adapting to the current environment, we will continue to invest in our strategic priorities of content, ads diversification, use case expansion and shopping. We're committed to delivering inspiration to our users and measurable results to businesses."
• The company said that, given uncertainties surrounding the pandemic, it isn't providing revenue or adjusted Ebitda guidance for 2020, but did say that cost of revenue has historically grown with users rather than revenue, "which in this environment puts some pressure on gross margins." Pinterest also said it expects operating expenses to be higher in the second quarter on a year-over- year basis, but increase at a slower pace than the first quarter.
• Pinterest noted that it had $1.7 billion in cash, plus a $500 million undrawn revolving credit line, but that it is "making adjustments to our expenses where appropriate."
• Pinterest shares were down 9.4% to $18.85 around 4:45 p.m. , after losing 2.9% in regular trading, when the S&P 500 gained 0.9%.
Technicals
ADV 14.37m RVOL 1.65 ATR 1.29 Short 5.54% Inst Own 59%
Daily

Hourly

Intra

Trading Strategy
• The best part of this sell-off has taken place since yesterday’s close
• Short off 18 if it can spiek to that in the open using 30 cent stop
• A possible opening drive if the momentum starts moving that direction again before the open use 17.63 or 17.50 as a stop depending on entry and momentum
• S16.70 inflection there is a possible bounce here and short if to fail
Reading the Tape
There was a large set of asks @ 17.80 when I was trying to short into a new low that led me to take off a trade.
Trade Management

Trade Notes
I had to strong of a bias on this out of the gate. The gap was pretty large and I believe I did not properly account for that in my game planning. I did take the short at the second test of VWAP and again at what I had as Pre-market inflection 17.90. I shorted is off this level twice with 15 cents at risk the first set up and 10 on the second. I hit a full 2 for 1 setup on the first trade and took it off as it hit I decided to flatten as I saw a large set of asks at 17.80