For what feels like the first time this week, we will not be discussing cryptocurrency in any way, shape, or form.
Instead, we’re looking at a somewhat under-the-radar announcement from the Federal Reserve Bank of St. Louis that it has created its own Pinterest (NASDAQ: PINS) account.
The bank posted the following tweet yesterday:
Calling all teachers! The St. Louis Fed has launched a Pinterest account. The initial launch spotlights economic education materials including lesson plans, classroom activities, videos and more with virtual learning in mind.
You can check out the page yourself here.
While a bank’s tweets are hardly the sexiest topic to read while you sip your morning coffee, the implications of the move could be very important for Pinterest, a stock that has soared more than 300% in the past year.
As COVID-19 continues to ravage our educational and professional systems, the move to online learning seems inevitable. Already, Zoom, Slack, and other remote tools have become integral to schools and universities reopening. After all, nobody wants the $2 trillion+ U.S. education economy to grind to a halt.
Suddenly, Pinterest and its strong reputation as a safe, educational, and trustworthy social media site become associated with this educational migration to the internet. With 460 million users and growing, Pinterest is now seen as a valuable learning platform at a federal level. Should these early initiatives with the St. Louis Fed prove successful, there’s nothing to stop other institutions from hopping on the trend.
It’s very early days yet, and although one bank making an account is nothing to throw a party over, investors should be watching this space with great (p)interest.
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Jamie is the Content Editor here at MyWallSt. His favorite stock is Apple, which is also the first stock he ever bought. Jamie is not only a big fan of its products, but he believes that the tech giant has a whole lot more to give the world, and hasn't even scraped the surface of its potential.