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Daniel Loeb's Third Point has taken a new stake in Disney, pushing the entertainment giant to spin off its sports network ESPN. In a letter to Disney CEO Bob Chapek, Dan Loeb said there is a strong case that the ESPN business should be spun off. "ESPN would have greater flexibility to pursue business initiatives that may be more difficult as part of Disney, such as sports betting," Loeb said. LSee more
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⚡️ Pinterest shares are higher today on the heels of WSJ report yesterday that hedge fund Elliott Management has taken a 9% stake ⚡️ This has sparked some discussion of $PINSbeing taken private or acquired by another company. The social media platform shares plummeted 🔻 75% in the past year as the social media company struggled to retain users. While revenue grew 52% in 2021 to over $2.5 billionSee more
July 15, 2022
PINS
PINS15.25%
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Invested in Engine No. 1 Transform 500 ETF
#activist #esg #sp500
Tipped
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Sold SPDR S&P 500 ETF TrustInvested for 13 days
Lost3.94%
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