Vivek Ramaswamy Acquires 7.7% Stake in BuzzFeed, Shares Surge
The former GOP presidential candidate aims to shift BuzzFeed's strategy, sparking investor interest and significant stock gains.
- Ramaswamy's purchase led to a 50% spike in BuzzFeed's stock price before stabilizing around a 25% gain.
- NBCUniversal sold over $10 million in BuzzFeed shares following the stock surge.
- BuzzFeed has faced financial struggles, including layoffs and the closure of its news division.
- Ramaswamy intends to engage with BuzzFeed's board on strategic changes to maximize shareholder value.
- The acquisition marks a notable move for Ramaswamy, known for his 'anti-woke' stance and support for Donald Trump.
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