PayPal/Pinterest is Off, Tesla’s New High is On
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 25 October 2021
⏱️ 19 minutes
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Summary
PayPal breaks off acquisition talks with Pinterest. Tesla raises the price of certain models and strikes a $4.2 billion dollar deal with Hertz. Wells Fargo gets ready to roll out a new virtual assistant named “Fargo”. Asit Sharma analyzes those stories and shares why mini-candy bars are underrated at Halloween.
Transcript
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| 0:00.0 | It's Monday, October 25th, welcome to Marketfoolery, I'm Chris Hill, with me today, Mr. |
| 0:07.4 | Osset Sharma. |
| 0:08.4 | Thanks for being here. |
| 0:09.9 | Chris, thanks as always for having me, excited to be with you today. |
| 0:13.4 | We've got the latest in banking innovation, we've got Teslas, New Hyde, we're going to |
| 0:17.0 | start with the unraveling of last week's big deal, PayPal issued a statement saying |
| 0:23.1 | the company is, quote, not pursuing an acquisition of Pinterest at this time. |
| 0:28.7 | This is in response to reports last week that PayPal was preparing to spend up to $45 |
| 0:34.3 | billion to buy Pinterest. |
| 0:36.3 | The deal is now off and shares are reacting accordingly, I would say, PayPal up about |
| 0:42.7 | 5% Pinterest down, about 13%. |
| 0:48.7 | Where do you want to start with this? |
| 0:49.7 | Because we were talking right before we started recording here, there are a bunch of different |
| 0:53.3 | ways we could go, but where do you want to start? |
| 0:56.9 | I want to start Chris with the idea that PayPal might have had an interest in Pinterest. |
| 1:03.8 | Stock was initially down when the potential of a deal was announced, not announced, but |
| 1:08.4 | leaked out last week. |
| 1:10.5 | PayPal stock is up. |
| 1:11.5 | Today, shareholders are obviously relieved. |
| 1:13.5 | I think I'm in the minority because I actually believe the deal would have had some potential. |
| 1:19.3 | PayPal is very quietly added another layer to its stack. |
| 1:23.4 | They started with payments and payments processing a few years ago. |
... |
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