Remember when PayPal Holdings (NASDAQ: PYPL) was reportedly interested in acquiring Pinterest (NYSE: PINS) late last year? At the time, Pinterest was valued at upwards of $40 billion, so PayPal would have ended up egregiously overpaying given everything that has ensued since news of a potential deal first leaked. Pinterest is now just a $15 billion company.
Technology stocks have been among the best-performing sectors over the past month, second only to consumer discretionary stocks. Admittedly, the tech-laden Nasdaq 100 index is still down 19% in 2022, compared to a 13% decline in the S&P 500 and a 9% drop in the Dow Jones Industrial Average, but the rally indicates the sector is not dead. Tech stocks carried the market on its nearly decade-and-a-half bull run before they were frozen out at the end of last year as traders switched to seemingly more recession-resistant names.
Amazon's iRobot deal is another interesting topic in this "Motley Fool Money" podcast.