Elliott Investment Management just bought $1 billion in Pinterest stock, about 30% of the stock’s closing price Monday. Elliott already had an investment in Pinterest but now is taking a stronger role to try to turn the company around. Pinterest laid off 15% of its workforce, or about 700 people, earlier this year and is reallocating resources to AI and other products. The company has projected slower revenue growth as retailers pull back from advertising spending due to tariffs.
