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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 $PINS being 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 billion, the number of global monthly active users fell 6% to 431 million, a worrying sign for investors concerned that the app's popularity is dwindling. Elliott has some experience getting involved with struggling online advertising businesses. In 2020, Twitter reached a deal with Elliott and Silver Lake, granting the firms board seats and initiating a $2 billion share repurchase program. $TWTR also received a $1 billion investment from Silver Lake as part of the deal. What your thoughts #publiccommunity 💭 Do you see Pinterest being acquired? Source https://www.cnbc.com/amp/2022/07/14/pinterest-soars-after-report-that-elliott-management-acquired-9percent-stake.html #activist #Pinterest #Elliot #socialmedia #acquisition
July 15, 2022
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