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Why Pinterest Stock Tumbled on Tuesday

TheMotleyFool

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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

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