Why Pinterest Stock Tumbled on Tuesday
Shares of Pinterest (NYSE: PINS) took a hit on Tuesday, falling 5.5%. The growth stock's decline extends a brutal pullback after PayPal (NASDAQ: PYPL) said on Sunday that it was not pursuing an acquisition of the company, dispelling rumors that PayPal could buy Pinterest for $70 per share.
Image source: Pinterest.
News first broke on Oct. 20 that PayPal might have been considering buying Pinterest. The report initially sent shares soaring since the rumored buyout price up for consideration was $70, a 26% premium to where the stock was trading the previous day.
Source Fool.com


