Pinterest stock drops 8% amid CFO resignation and slower growth guidance, signaling a premium multiple reset.

Pinterest shares fell 8% without new headlines, continuing a 21% decline over the past month due to CFO resignation and lowered Q3 revenue growth guidance (13-15% vs. 18.2% in Q2). Despite solid user growth and cash flow, the high valuation (P/E 54.81x) is being repriced amid leadership uncertainty and slower growth. Social peers Reddit and Snap showed milder losses, indicating the selloff is company-specific. Investors await Pinterest's Q3 report in November for clarity on growth and leadership stability, while the stock remains vulnerable to further multiple compression without fresh positive catalysts.