Shares of photo hosting Pinterest, which can become a potential competitor to Instagram, during the trading on Wednesday, October 20, jumped by almost 20 percent. At the peak, the Pinterest paper cost reached $ 66 per piece, which is 18.74 percent above the last closing price, follows from the data of the New York Stock Exchange. At the trading on Thursday, October 21, the cost of securities fell to 61.94 dollars per piece.
Societary allows you to combine images to thematic collections and share them with other users. The reason for the jump price was the information that Pinterest can buy PayPal. According to Bloomberg, they discussed the possible price about $ 70 dollars per share, which would mean an assessment of only Pinterest about $ 45 billion.
It is assumed that the purchase of an online platform will allow PayPal users to find new things to purchase, which will lead to an increase in payments. Pinterest will become the largest paypal acquisition. So far, the largest transaction for the company has become the acquisition of Honey Science Corp. About 4 billion dollars in 2019.
at the auction on Thursday, October 21, PayPal shares lost 3.81 percent and dropped to $ 248.2.
In the beginning of 2021, the purchase of Pinterest made Microsoft Corporation. As the Financial Times is then celebrated, this deal could be the largest in the history of technological. Pinterest herself during a pandemic has risen in price by 600 percent, its market value approached 51 billion dollars.