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Vivek Ramaswamy’s stake in BuzzFeed sends shares up 20%, as he seeks strategic ‘shift’

Posted on AllSides May 22nd, 2024
From The Center
Mike Segar | Reuters

Former GOP presidential hopeful Vivek Ramaswamy has an 8% stake in BuzzFeed and is seeking to effect a “shift” in the media firm’s strategy, the investor said Tuesday in a regulatory filing.

“Stay tuned,” Ramaswamy told CNBC via a spokesperson. He indicated in the filing that he would seek to discuss with BuzzFeed’s management every aspect of the company’s operations, up to and including an acquisition by a third party.

BuzzFeed shares opened up 55% on the news. Shares pared back gains and were up about 20% as of 10:25 a.m. ET....

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