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Benzinga

Business

Wayne Duggan

Pinterest Analyst Says Elliott Management's Impact 'Could Be Limited': What Investors Should Know

Pinterest Elliott Elliott Management NYSE PINS Pinterest Inc Angelo Zino Ben Silbermann Justin Patterson CFRA

Pinterest Inc (NYSE:PINS) rallied 14.8% on Friday following reports that activist investor Elliott Management has taken a 9% stake in the company.

What Happened? On Thursday, the Wall Street Journal reported Elliott Management has taken a sizable stake in Pinterest and has been conducting talks with the company. Pinterest has been struggling with declining monthly active user numbers, and former CEO Ben Silbermann stepped down from the position in June. Prior to Friday's gains, Pinterest shares had been down 75% over the past year.

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One subscription that gives you access to news from hundreds of sites

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