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.
The Hollywood Reporter Joe.My.God. The Daily Beast Business Insider Sherwood News Denver Gazette People Yahoo Finance HuffPost Washington Examiner Quartz New York Magazine Breitbart CNN Forbes The Daily Caller The Hill New York Post The Guardian Yahoo Finance Mediaite TheWrap Associated Press CNBC Variety The Hollywood Reporter 
