Billionaire Paul Singer’s Recent Activist Targets and 5 Top Stock Picks

2. Pinterest, Inc. (NYSE:PINS)

Long-Term Returns since Singer’s Investment: 70%
S&P 500 Gains since Singer’s Investment: 2.1%

Based in San Francisco, California, Pinterest, Inc. (NYSE: PINS) functions as a visual discovery engine, enabling users to explore ideas ranging from recipes to home and style inspiration, among other things. Pinterest, Inc. (NYSE:PINS) provides video products and idea pins while offering organizing and planning tools. 

Elliott management targeted Pinterest, Inc. (NYSE:PINS) last year as part of an activist campaign to reinvigorate its prospects. The hedge fund acquired $90 million worth of shares, which has increased to $756.84 million as of Q3 2023.

With the investment, the hedge fund pushed for management changes and succeeded in gaining a seat on the board, putting it in the driver’s seat in forging its future. Pinterest, Inc. (NYSE:PINS) fortunes have improved by the stock rallying by 50% year to date.

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