Activist investor Elliott takes big stake in Pinterest amid turmoil

Activist investor Elliott Management Corp. has taken a large stake in Pinterest Inc., according to people familiar with the matter, as the once-hit social media company grapples with declining user numbers and other challenges.

Elliott told the company she was the biggest investor in Pinterest PINS,
-4,62%,
having built a stake of more than 9% over the past few months – partly in common stock, one of the people said. The activist has had discussions with Pinterest over the past few weeks. It was not possible to find out what they were discussing.