BuzzFeed surges as Vivek Ramaswamy reveals stake

Roivant Sciences

22/05/2024 12:26

** Shares of BuzzFeed  BZFD.O  jump 34% to $3.31 premarket
    ** Republican Vivek Ramaswamy, who dropped out of the White
House race in January, has taken a 7.4% stake in BuzzFeed for
about $4 mln, as per SEC filing
    ** Ramaswamy "to engage in a dialogue with (BuzzFeed's)
Board of Directors and/or management about numerous operational
and strategic opportunities to maximize shareholder value,
including a shift in the Company's strategy," per filing
    ** A multi-millionnaire, Ramaswamy had founded biotech firm
Roivant Sciences  ROIV.O 
    ** Stock up 62% so far this month and 150% YTD

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))