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Takeaway: We are adding PINS to the long side of Investing Ideas today.

Below is a note written by CEO Keith McCullough on why we're adding Pinterest (PINS) to the long side of Investing Ideas today:

Unlike UBER and LYFT, my Independent Research Team (read: no conflicts of interests like you see on Old Wall TV) liked PINS on the IPO.

The only risk management decision making #process from there is to let the stock breathe so that it can develop a risk range.

Then, like anything else, we wait for a correction to the low-end of its @Hedgeye Risk Range.

Here's a summary excerpt from Communications Andrew Freedman's Pinterest (PINS) notes to our Institutional Research subscribers:

"There is a lot we like about the company and its fundamentals. We like that PINS is in the very early stages of monetizing their 265 million MAUs (184M Intl / 82M U.S.), especially in international markets where ARPU averaged a paltry $0.06 per quarter in 2018."

Buying on red is what we do. We don't change that because people "feel" differently about a new regime of volatility,