Vivek Ramaswamy's stake in BuzzFeed sends shares up 20%, as he seeks strategic 'shift'
Publishing timestamp: 2024-05-22 11:35:12
Summary
Vivek Ramaswamy, with an 8% stake in BuzzFeed, is seeking to shake up the entire firm and discuss every aspect of the company's operations, potentially including acquisition by a third party. His involvement has raised questions about BuzzFeed's direction, as his firm has pushed companies to stay out of "woke" politics and opposed ESG principles. BuzzFeed shares opened up 55% on the news but have since pared back gains. Ramaswamy made his fortune through his drug development firm and has remained close to the Mar-a-Lago circuit after supporting former President Donald Trump.
Sentiment: MIXED
Keywords: media, breaking news: technology, breaking news: business, business news, voting, government and politics, roivant sciences ltd, buzzfeed, technology, breaking news,
Source: https://www.cnbc.com/2024/05/22/vivek-ramaswamy-buzzfeed-activist-stake.html