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Pinterest shares pop after report Elliott has acquired more than 9% stake

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ALL PINNED UP: Pinterest shares pop after a report that activist investor is in talks with company

Mainstay Capital Management CEO and CIO David Kudla says investors shouldn't get 'too excited' about growth stock rallies.ctivist investor Elliott Management is in talks with the company.

The Wall Street Journal, citing people familiar with the matter, said Thursday that Elliott Management has amassed a more thanThe Journal said it could not be determined what the discussions between the parties were about. Elliott has told Pinterest that it is its biggest investor, and Refinitiv data shows that The Vanguard Group holds an 8.7% stake.Pinterest co-founder and former chief executive Ben Silbermann has a roughly 37% voting stake in the company. The Pinterest logo is displayed on a screen on the floor of the New York Stock Exchange in New York City, Oct. 20, 2021.

 

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