Pinterest Just Got a Big Vote of Confidence -- Time to Buy?
Pinterest (NYSE: PINS) hasn't exactly been a stellar performer, with shares more than 75% below their highs. However, Elliott Management, a large activist investment firm, just took a big stake in Pinterest and has reportedly been in talks with the company on unspecified matters over the past few weeks.
Here's a rundown of what investors need to know about Elliott Management's investment, why the firm might be willing to put over a billion dollars in capital into the social media company's stock, and what it could mean to investors in the long and the short term.
Elliott Management, an activist investor firm with more than $50 billion under management, has built up a stake of more than 9% in Pinterest over the past few months, according to a report by The Wall Street Journal. This makes Elliott the largest Pinterest shareholder, giving it an investment worth about $1.2 billion at the current market price.
Source Fool.com
