Shares of image-based social media company Pinterest (NYSE: PINS) have fallen more than 75% in the past year, as slowing user signups, a reversal of the trends that accelerated its growth early in the COVID-19 pandemic, and worries about the impact of an economic recession on advertising revenue combined to hurt confidence in the stock. The situation finally reached a head late Tuesday, and Pinterest took the aggressive move of bringing in outside help to take over the role of CEO from founder Ben Silbermann. Pinterest's stock moved up by 4% in premarket trading on Wednesday, so it's clear that many of those who trade the stock agree with the positive view of the leadership change presented in the company's press release.
US stocks fell Wednesday morning, extending Tuesday's losses as investors remained focused on mounting signs of a slowdown in US economic growth.
Renowned artists Manal AlDowayan, Agnes Denes, Michael Heizer, Ahmed Mater and James Turrell will create permanent and era-defining new works for Wadi AlFann, an iconic new cultural destination set to open by 2024 in the ancient desert of AlUla, in the Arabian Peninsula.
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