Why Pinterest Stock Is on Fire on Wednesday
Shares of Pinterest (NYSE: PINS) charged sharply higher Wednesday, surging as much as 18.7%. As of 12:39 p.m. EDT, the stock was up 7.9%.
The catalyst that sent the social media company higher was a report that Pinterest has attracted a big-name suitor.
Rumors emerged that digital payments kingpin PayPal Holdings (NASDAQ: PYPL) is potentially interested in acquiring Pinterest. The story first appeared in Bloomberg, which cited "people with knowledge of the matter," before the report spread like wildfire.
Source Fool.com
