Pinterest Secures $1B Investment, Boosts Buybacks

Activist investor Elliott Investment Management made a $1 billion investment in Pinterest, triggering an 8% share price jump, the company said. Pinterest said it will use the funding toward a $3.5 billion share repurchase program, and Elliott will buy $1 billion in convertible senior notes convertible at $22.72 per share, a 30% premium. The move follows this year's 32% share decline amid slowing growth, tariff-related ad pullbacks, and layoffs.