The Nasdaq-100 rose 4.2 percent between Friday, October 2, and Friday, October 9. It was the index’s third straight positive week, and its best performance since early July. Its gain was also twice the advance of the broader S&P 500 index.
Pinterest (PINS) announced yesterday it would issue 75 million shares for $15-17 each. Based on its 529 million share count, that translates into an overall valuation of $7.9 billion to $8.9 billion. The number immediately raised eyebrows because PINS was valued around $12 billion in the private market 22 months ago.