Why Is Everyone Talking About Pinterest Stock?
Pinterest's (NYSE: PINS) stock soared nearly 13% on Oct. 20 after a Bloomberg report declared that PayPal (NASDAQ: PYPL) was interested in buying the social media company for about $70 per share.
The report, which cited anonymous sources, claimed the deal would value Pinterest at approximately $45 billion and represent PayPal's largest acquisition ever. A subsequent Reuters report claimed PayPal would fund most of the deal with its own stock instead of cash or debt.
This wouldn't be the first time a major tech company tried to buy Pinterest. About a year ago, Microsoft (NASDAQ: MSFT) reportedly tried to buy Pinterest for about $51 billion after it failed to bring TikTok's U.S. operations into the fold. Pinterest walked away from that offer, but its stock tumbled this year after its monthly active users (MAUs) dropped sequentially in the second quarter.
Source Fool.com
