In general, many financial experts support their clientsâ desire to buy cryptocurrency, but they donât recommend it unless clients express interest. âThe biggest concern for us is if someone wants to invest in crypto and the investment they choose doesnât do well, and then all of a sudden they canât send their kids to college,â says Ian Harvey, a certified financial planner (CFP) in New York City. âThen it wasnât worth the risk.â The speculative nature of cryptocurrency leads some planners to recommend it for clientsâ âsideâ investments. âSome call it a Vegas account,â says Scott Hammel, a CFP in Dallas. âLetâs keep this away from our real long-term perspective, make sure it doesnât become too large a portion of your portfolio.â In a very real sense, Bitcoin is like a single stock, and advisors wouldnât recommend putting a sizable part of your portfolio into any one company. At most, planners suggest putting no more than 1% to 10% into Bitcoin if youâre passionate about it. âIf it was one stock, you would never allocate any significant portion of your portfolio to it,â Hammel says.
Pinterest (PINS) Stock Sinks As Market Gains
Pinterest (PINS) closed at $71.75 in the latest trading session, marking a -0.18% move from the prior day. This change lagged the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.9%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Heading into today, shares of the digital pinboard and shopping tool company had lost 17.41% over the past month, lagging the Computer and Technology sector's loss of 5.38% and the S&P 500's gain of 0.71% in that time.
Investors will be hoping for strength from PINS as it approaches its next earnings release. The company is expected to report EPS of $0.07, up 170% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $467.87 million, up 72.05% from the year-ago period.