Pinterest Soars 16% as Elliott Management Builds More Than 9% Stake

StreetInsider2022-07-15

Pinterest, Inc. shares surged around 16% after-hours Thursday following a report from The Wall Street Journal that activist investor Elliott Management Corp. has built a stake of more than 9% in the ...

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Comments

matcha_latte
2022-07-16
matcha_latte
Ok
Oon Bubble
2022-07-15
Oon Bubble
Very very like
Jazim
2022-07-15
Jazim
Cool
TSY123
2022-07-15
TSY123
Okay
Kitsonlin
2022-07-15
Kitsonlin
Morning
ramius75
2022-07-15
ramius75
🚀🚀🚀

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108

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07:05","market":"us","language":"en","title":"Pinterest Soars 16% as Elliott Management Builds More Than 9% Stake","url":"https://stock-news.laohu8.com/highlight/detail?id=2251502174","media":"StreetInsider","summary":"Pinterest, Inc. shares surged around 16% after-hours Thursday following a report from The Wall Stree","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/PINS\">Pinterest, Inc.</a> shares surged around 16% after-hours Thursday following a report from The Wall Street Journal that activist investor Elliott Management Corp. has built a stake of more than 9% in the company. </p><p><img src=\"https://static.tigerbbs.com/ffcef284a4fff05a1959f693d62a8a62\" tg-width=\"1010\" tg-height=\"668\" width=\"100%\" height=\"auto\"/></p><p>According to the people familiar with the matter, Elliott Management has been in discussions with the company over the past several weeks, however, the context of the discussions is unknown.</p><p>Ben Silbermann, who stepped down as chief executive of the company, becoming executive chairman in June, has a roughly 37% voting stake in Pinterest. This could limit Elliott Management Corp.’s ability to force changes.</p><p>While the company saw dramatic growth in its business during the pandemic, posting its first full-year profit in February with more than $2 billion in annual revenue, global active monthly users for the quarter ended in March dropped 9%, with the company posting a net loss of $5 million. 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