Shares of PayPal (NASDAQ: PYPL) stumbled on Wednesday, falling as much as 6.8%, though the stock recovered a bit, ending the trading day down 4.7%. Reports surfaced early in the day that PayPal had made overtures to acquire social-media site Pinterest (NYSE: PINS). Bloomberg dropped the story, citing the oft-quoted "people with knowledge of the matter," which sent Pinterest stock soaring.
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