Pinterest CEO Ben Silbermann speaks in conversation with Matthew Lynley of TechCrunch during the TechCrunch Disrupt SF 2017 on September 18, 2017 in San Francisco, California.
Justin Sullivan | Getty Images News | Getty Images
Shares of Pinterest plunged 17% on Friday, briefly pushing it below the its IPO price for the first time.
The stock was trading as low as $18.71 on Friday morning, which is below its IPO price of $19 from April. The stock ended trading at $20.86.
It comes after Pinterest reported disappointing third-quarter results late Thursday. The company posted revenue of $279.7 million, which was lower than consensus estimates of $280.6 million. It also missed estimates for its 2019 full-year outlook.
Pinterest has yet to turn a net profit at a time when investors have grown increasingly skeptical of money-losing tech companies. The company reported a net loss for the third quarter of $124.7 million, while stock-based compensation hit $130.3 million during the quarter, a sharp uptick from $3.9 million a year earlier.
—CNBC’s Ari Levy contributed to this story.