The share of the photo platform was one of the winners during the Corona period, but has recently been under a lot of pressure.
(Photo: Reuters)
Dusseldorf The shares of the online platform Pinterest started trading on Wall Street with a jump in price. The papers rose by around 15 percent in the first hour of trading on Tuesday to just under 23 dollars after the activist investor Elliott announced the previous evening that he was now the largest shareholder.
Pinterest is a “highly strategic business with significant growth potential,” said Elliott CEO Jesse Cohn and senior portfolio manager Marc Steinberg Monday night. One is so convinced of the value creation opportunity at Pinterest that one has become the largest investor in the company.
Elliott did not disclose exactly how large the proportion is. The Wall Street Journal newspaper reported in mid-July that it was more than nine percent.
Pinterest stock hit by broad stock market correction
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