Is Pinterest a Buy After a Billionaire Activist Pours $1 Billion Into the Stock?
2026-03-10 06:50:00 ET
Pinterest (NYSE: PINS) recently got a huge vote of confidence after activist investor Elliott Investment Management, led by billionaire investor Paul Singer, announced that it would add $1 billion to its stake in the company through a share repurchase plan.
Elliott will purchase $1 billion in convertible senior notes, which Pinterest will then use the proceeds from to repurchase $1 billion worth of its shares through an accelerated share repurchase (ASR) agreement. Elliott's notes will be convertible into stock at $22.72 per share, which is a 30% premium to the stock's price before the announcement. The notes will also pay out 1.75% a year in interest and mature in 2031.
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