Pinterest's stock jumped 8% after Elliott Management invested $1 billion
Pinterest will use the investment for stock buybacks as part of a $3.5 billion repurchase program
The investment follows Pinterest's stock slump after poor Q4 earnings and job cuts
Elliott's investment represents confidence in Pinterest's future opportunities
📖 Full Retelling
Social media company Pinterest experienced an 8% stock surge on May 5, 2025, following activist investment firm Elliott Management's announcement of a $1 billion stake in the company, which Pinterest intends to use for stock buybacks as part of a $3.5 billion repurchase program approved by its board. The investment represents a significant vote of confidence in Pinterest's business trajectory, with CEO Bill Ready describing it as 'a strong vote of confidence in the work we have done to build our business and the significant opportunities ahead.' Marc Steinberg, a partner at Elliott and member of Pinterest's Board, echoed this sentiment, noting that the firm sees 'substantial opportunity ahead' for the social media platform. This positive development comes after Pinterest faced challenges in recent months, including a stock slump following lackluster fourth-quarter earnings performance. The company had attributed part of these difficulties to tariff shocks that impacted large retailers and subsequently led to reduced advertising spending.
🏷️ Themes
Corporate Investment, Stock Market Performance, Social Media Business
Social media are new media technologies that facilitate the creation, sharing and aggregation of content (such as ideas, interests, and other forms of expression) amongst virtual communities and networks. Common features include:
Online platforms enable users to create and share content and partici...
Pinterest is an American social media service for publishing and discovery of information in the form of digital pinboards. This includes recipes, home, style, motivation, and inspiration on the Internet using image sharing. Pinterest, Inc.
Elliott Investment Management L.P. is an American investment management firm. It is also one of the largest activist funds in the world.
It is the management affiliate of American hedge funds Elliott Associates L.P. and Elliott International Limited.
In this article PINS Follow your favorite stocks CREATE FREE ACCOUNT Bill Ready, CEO, Pinterest, speaks at the 28th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California on May 5, 2025. Patrick T. Fallon | AFP | Getty Images Pinterest 's stock jumped 8% after Elliott Investment Management made a $1 billion investment in the social media company. The company said it plans to use the investment to buy back stock as part of a $3.5 billion share repurchase program approved by the board. "Elliott's investment is a strong vote of confidence in the work we have done to build our business and the significant opportunities ahead for Pinterest," said CEO Bill Ready in a release. Marc Steinberg, who is a partner at Elliott and a member of Pinterest's Board, said the firm sees "substantial opportunity ahead" for the social media company. Last month, Pinterest slumped following a lackluste r fourth-quarter earnings . At the time, the company said the tariff shocks weighed on large retailers and led to a pullback in advertising. In January, the company also joined a wave of companies cutting jobs to prioritize artificial intelligence, and axed less than 15% of its workforce. Read more CNBC tech news Anthropic's Claude sees 'elevated errors' as it tops Apple's free apps after Pentagon clash Iran's internet down for second day amid reports of U.S.-Israel cyberattacks Apple launches lower cost iPhone 17e and a new iPad Air powered by its M4 chip OpenAI strikes deal with Pentagon, hours after rival Anthropic was blacklisted by Trump Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Si...
