WBD - What's Going On With Paramount Global Stock? | Benzinga
Paramount Global (NASDAQ:PARA) shares are moving Thursday after Berkshire Hathaway sold approximately 30.4 million shares of the stock.
The Details:
Berkshire Hathaway, led by Warren Buffet, reduced its position in Paramount by roughly 30.4 million shares and now holds 63.32 million shares.
Paramount Global has been exploring a sale or merger and has received interest from Warner Bros. Discovery, Inc. (NASDAQ:WBD), Skydance Media, and Byron Allen. Earlier this week, the troubled media company announced it was cutting 800 jobs, approximately 3% of its workforce.
According to data from Benzinga Pro, shares are trading below the stock’s 50-day moving average of $14.44 and well-below its 52-week high of $24.66. Also, ...