Why Pinterest Stock Is Up Big This Week
Shares of Pinterest (NYSE: PINS) shot higher on Wednesday when rumors surfaced regarding a potential buyout. According to various reports, PayPal Holdings is in talks to acquire the social media company at a valuation of $45 billion, or roughly $70 per share. While no official announcements have been made, Pinterest's stock price was still up 13.9% this week as of 9:45 a.m. EDT on Friday, according to data provided by S&P Global Market Intelligence.
Pinterest is a unique social platform. Rather than connecting people with friends and family, it blends visual search, media content, and artificial intelligence to connect people with products and ideas. And in recent years, management has taken steps to make Pinterest more shoppable, effectively transforming the platform into an e-commerce discovery tool.
Image source: Getty Images.
Source Fool.com
