That was on top of a 4.9% drop on Wednesday, after news of a potential deal. Pinterest shares fell 2.1%. As part of a 2013 acquisition of another company, PayPal took over Venmo and gained access to its base of millions of young users. A potential Pinterest acquisition would bring PayPal hundreds of millions of new users and help it meet its target of doubling the number of PayPal active accounts to 750 million by 2025. With a lower price, PayPal would likely have to hand a larger portion of its shares to Pinterest investors.

Source: Wall Street Journal October 31, 2021 13:07 UTC