VIACA - ViacomCBS falls 7% from all-time high; Kass floats equity offering chatter

ViacomCBS is slipping off some lofty heights today ([[VIAC]] -7%, [[VIACA]] -7%) after yesterday's all-time high spurred by a ratings win. Investor Doug Kass says he's hearing that ViacomCBS may be considering a large share offering ("makes sense"). Shares had doubled year-to-date, and are nearly triple the level of a year ago. Volume is running to the high side for this part of the morning, but not a tremendous outlier, with 8.4M shares having changed hands. Kass says this morning that he is short ViacomCBS as well as Disney ([[DIS]] -2.2%): "These might be two of the most overvalued non-technology stocks on the NYSE currently."

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ViacomCBS falls 7% from all-time high; Kass floats equity offering chatter