BuzzFeed stock jumps 50% as Vivek Ramaswamy reports 7.7% stake
Shares of media company BuzzFeed jumped more than 50% premarket Wednesday following news that American entrepreneur and politician Vivek Ramaswamy has acquired a stake in the company.At the time of writing, BuzzFeed shares are trading at $3.10 after closing Tuesday's session down 1.6% at $2.50.
The filing states that Ramaswamy believes BuzzFeed shares are undervalued and"represent an attractive investment opportunity." In addition, he"will seek to engage in a dialogue with the Issuer's Board of Directors and/or management about numerous operational and strategic opportunities to maximize shareholder value, including a shift in the company's strategy."Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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