Pinterest Rallies on Report That Elliott Has Acquired a Stake

Pinterest Rallies on Report That Elliott Has Acquired a Stake

Pinterest Inc. shares jumped more than 15% in premarket trading after the Wall Street Journal reported that activist investor Elliott Management has acquired a stake in the struggling social-media company.

Elliott has built a stake of more than 9%, making it the company’s biggest investor, the newspaper reported Thursday, citing unidentified people familiar with the matter. The shareholder has engaged in discussions with Pinterest management, though the nature of those talks wasn’t clear, the Journal said.

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