Drew Angerer
- BuzzFeed (NASDAQ:BZFD) stock slipped 3.2% after the bell on Monday as Comcast (CMCSA) cut its stake in the media outlet to 15.9% from ~20% earlier.
- From February 2 to February 6, Comcast (CMCSA) sold a little over 5.1M class A shares of BuzzFeed (BZFD) in the open market.
- As of February 6, Comcast (CMCSA) beneficially owned ~20M class A shares of BuzzFeed (BZFD).
- This represents less than 5% of the total voting power of BuzzFeed's (BZFD) outstanding class A, class B and class C stock on a combined basis, as of November 10.
- BuzzFeed (BZFD) stock climbed 10% in the last six months, but SA Quant warns that it is at high risk of performing badly.
- Earlier, BuzzFeed (BZFD) stock more than doubled on its engagement with OpenAI to boost more content.