PINS - BuzzFeed: The Highly Favorable High-Frequency Data Hiding In Plain Sight
2024-07-29 16:17:30 ET
Summary
- There's arguably high-frequency data, at least directionally, suggesting BuzzFeed could have a really strong Q3 FY 2024.
- Recent events, including political intrigue and the Paris Olympics, have driven high engagement for BuzzFeed, potentially leading to the possibility of a highly positive Q3 2024.
- There's evidence major advertising/political crumbs could fall off the media giants' $450 million table, crumbs that BuzzFeed could, directly and indirectly, scoop up, at least a few.
- Albeit anecdotally, as I track BuzzFeed's site several times per day, I'm noticing stronger engagement driven by a compelling series of major events.
On April 11, 2024, I shared with the Seeking Alpha audience my Best Current Micro-Cap Idea: BuzzFeed, Inc. ( BZFD ). Subsequent to publishing that piece, on May 22, 2024, to be exact, BZFD shares ripped higher, on the unexpected news that former Republican Presidential hopeful Vivek Ramaswamy acquired a then 7.7% activist stake. Given this news, BZFD shares ripped higher and made an intraday high watermark, which was struck in the low $4.50s. However, that big move didn't hold, and we learned later, that Comcast Corporation ( CMCSA ) sold over 3 million of its then 5 million share stake (Comcast's NBCUniversal were original IPO investors) and that was the biggest reason for BZFD stock to quickly reversed course and give back a lot of the early morning major pop, on May 22, 2024, when its stock traded into the low to mid $4s....
BuzzFeed: The Highly Favorable High-Frequency Data, Hiding In Plain Sight