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BTCC / BTCC Square / Global Cryptocurrency /
Pinterest Soars 9% After Elliott Backs Company With $1B Convertible Notes

Pinterest Soars 9% After Elliott Backs Company With $1B Convertible Notes

Author:
Global Cryptocurrency
Published:
2026-03-04 07:30:02
14
1
BTCCSquare news:

Pinterest shares surged 9% Wednesday as Elliott Investment Management committed $1 billion through convertible notes, signaling confidence in the social media platform's AI-driven growth strategy. The notes carry a conversion price of $22.72 per share—a 30% premium over March 2 closing levels—enabling capital raising without immediate dilution.

Concurrently, Pinterest's board approved a $3.5 billion share repurchase program, reinforcing investor confidence despite recent tariff-related ad cuts and workforce reductions. CEO Bill Ready framed Elliott's investment as validation of Pinterest's product roadmap, while board member Marc Steinberg highlighted untapped potential in the company's trajectory.

|Square

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