10/20, 5:37 PM (Source: TeleTrader)
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Pinterest jumps near 10% on acquisition report

Shares of Pinterest, Inc. surged close to 10% on Wednesday after a report hinted that the financial technology giant PayPal Holdings, Inc. could decide to enter an acquisition deal with the platform.

A report by Bloomberg suggested that the San Jose-based fintech firm "recently approached" the social media company with an offer valued at $39 billion, or $70 per share.

Stocks of Pinterest soared 9.39% at 11:33 am ET, selling for $60.8.

Breaking the News / BU