11:00 AM EDT, 07/19/2024 (MT Newswires) -- Pinterest's ( PINS ) business outlook is "bleak," with user engagement falling at "steep rates," short-seller Grizzly Research said in a report Thursday.

"All data reveals that Pinterest ( PINS ) is very rapidly losing interest among US consumers, while competitors are growing," the short-seller said in the report.

The company didn't immediately respond to a request for comment from MT Newswires.

Shares of Pinterest ( PINS ) were up 1.4% in recent Friday trading.

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