Pinterest (PINS.US) stock jumped over 15.0% on Friday after the WSJ reported that activist investor Elliot Management has taken a 9% stake in the image-sharing company, therefore becoming its biggest shareholder.
Company is going through a difficult period recently. Its stock plunged 75% amid dropping numbers of global monthly active users (MAU). In 2021 the company recorded a 6% decline of its MAU's to 431 million, and some analysts take it as a sign that the project's popularity is decreasing. Also a spate of executive departures is also worrying. Ben Silbermann stepped down as chief executive in June, and was replaced by Bill Ready, previously president of commerce at Alphabet Inc.'s Google.
เริ่มเทรดทันทีวันนี้ หรือ ลองใช้บัญชีทดลองแบบไร้ความเสี่ยง
เปิดบัญชี ลองบัญชีเดโม่ ดาวน์โหลดแอปมือถือ ดาวน์โหลดแอปมือถือOn the flip side, in the same period revenue jumped 52% to over $2.5 billion. It will be interesting to see whether Elliot Management involvement will improve the company's performance, similar to the case of Twitter from 2020.
Pinterest (PINS.US) stock launched today's session with a bullish price gap, however buyers struggle to break above local resistance at $20.70, which is marked with previous price reactions and downward trendline. Source: xStation5
