BZFD - BuzzFeed stock slips 3% postmarket after Comcast cuts stake
- 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 .
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BuzzFeed stock slips 3% postmarket after Comcast cuts stake