In premarket trade, PayPal Holdings (NAS:PYPL) rallied and Pinterest (NYS:PINS) tumbled after the payments firm said it wouldn't bid for the art-sharing social network. In a terse statement, PayPal said "that it is not pursuing an acquisition of Pinterest at this time." PayPal shares jumped 6% while Pinterest fell 10%. Bloomberg had reported PayPal's interest in buying Pinterest last week.
Oct. 25, 2021, 5:08 a.m. EDT