BuzzFeed Shares Soar as Vivek Ramaswamy Takes Stake, Seeks Talks
Posted on AllSides May 22nd, 2024
From The Left
BuzzFeed Inc. shares soared early Wednesday after the entrepreneur and former US presidential candidate Vivek Ramaswamy reported a stake in the online media company and asked for talks with the board.
Ramaswamy, who ended his candidacy in January and threw his support behind Donald Trump , has taken a 7.7% stake in BuzzFeed, worth about $6.81 million based on Tuesday’s closing share price. The purchase makes Ramaswamy the fourth largest shareholder in BuzzFeed, trailing Comcast Corp., NEA Management Co. and Hearst Communications Inc.
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