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Situational awareness:

  • Pinterest will price its IPO at $19 a share, $2 above the high end of its expected range, valuing the company at around $12.6 billion. Zoom priced its stock at $36 a share, valuing the company at more than $10 billion. (WSJ)
  • Amazon officially gave notice to sellers that it will shutter its marketplace and seller services program on its Chinese website,, starting July 18. (Reuters)
  • Two separate class-action lawsuits have been filed against Lyft by investors who claim the company overstated its market position ahead of its IPO. (Bloomberg)
  • Canadian cannabis giant Canopy Growth is closing in on a deal to acquire cannabis company Acreage Holdings. Acreage shares rose 10% in after-hours trading, but Canopy is also considering other partners. (CNBC)