Pinterest (PINS.US) stock rose 6% after the Financial Times reported the tech giant Microsoft (MSFT.US) reportedly made an approach in recent months to buy the image sharing company. Pinterest market value surged 600% since March and the company added a record 100 million monthly active users last year. Its revenue soared 76% to $706 million in the last quarter of 2020, easily beating Wall Street expectations by $58 million. Pinterest's market cap following Wednesday's trading session was about $50 billion. Previously social media company signaled that it wants to remain an independent company, the Financial Times noted. Talks currently aren't active but if such a deal were to take place then it would be the biggest purchase made by Microsoft. Both companies declined to comment to the Financial Times.
Pinterest (PINS.US) stock launched today's session higher and is currently testing its all-time high around $86.63, which is additionally strengthened by the upper limit of the ascending channel. The upward scenario will be invalidated if sellers will manage to regain control and break below the lower limit of the formation. In such a scenario, the first key support can be found at $76.79. Source: xStation5
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