Pinterest led by Chairman, Co-Founder, President and CEO Ben Silbermann and Co-Founder, Chief Design and Creative Officer, Evan Sharp ring the opening bell celebrating the IPO of Pinterest at the New York Stock Exchange in New York, April 18, 2019.
Brendan McDermid | Reuters
The company’s stock initially jumped on the news, before being halted due to volatility. It then resumed trading at more than 15%. The company’s stock was up more than 9% when it was halted for a second time. PayPal, meanwhile, dipped more than 3% on the news.
A Pinterest spokesperson did not immediately return CNBC’s request for comment.
PayPal has discussed acquiring the company for a potential price of around $70 apiece, which would value Pinterest at about $39 billion, according to Bloomberg. Pinterest stock closed at $55.58 per share on Tuesday.
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