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Pinterest stock pops 19% on activist investor increasing stake: report

43184 pinterest stock pops 19 on activist investor increasing stake report

Pinterest Inc.’s stock PINS, -4.62% popped 19% in extended trading Thursday following a report that activist investor Elliott Management Corp. has built a stake of more than 9% in the social-media company. The investment could make Elliott the biggest stakeholder in Pinterest, according to the Wall Street Journal report. Pinterest was not immediately available for comment. Amid a spate of executive departures, Ben Silbermann stepped down as chief executive in June, and was replaced by Bill Ready, previously president of commerce at Alphabet Inc.’s GOOGL, -0.89% GOOG, -0.67% Google.

Source: Marketwatch

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