The BriefingPinterest’s Elliott-Funded Share Buyback Is a Sign of the Times
Let’s take a moment to reflect on the benefits of share buybacks. That might sound like a wonky concept, but it’s important. Buybacks shrink the number of shares outstanding, raising the value of the stock that remains. Lately, as AI worries have battered tech stocks, several companies have unveiled expanded buybacks. The latest example is Pinterest, which revealed Tuesday that longtime shareholder Elliott Management had agreed to invest an additional $1 billion in the online scrapbooking...
