Penny Stock Buzzfeed Could Go Lower
BuzzFeed could try to sell more stock to raise cash, but the stock could drop to half of where it trades today.
Headquartered in New York, NY Fiscal year ends December NASDAQ: BZFD buzzfeed.com
BuzzFeed, Inc. (Nasdaq: BZFD) is a digital media company operating across pop culture, entertainment, shopping, food, and news. Founded in 2006, BuzzFeed operates its flagship BuzzFeed brand and HuffPost, generating revenue through three primary business lines: advertising (programmatic and direct ad sales across owned-and-operated sites and third-party platforms including YouTube and Apple News), content (custom branded content, studio productions including films, micro-dramas, content licensing, and TV projects leveraging BuzzFeed IP), and commerce and other (affiliate commissions from editorial shopping content and product licensing). The company is undergoing a major leadership transition, with founder Jonah Peretti moving to a newly created President of BuzzFeed AI role focused on applied AI research and technology-driven media formats, while Byron Allen of Allen Media Group assumes the role of Chairman and CEO following a proposed majority stake investment. BuzzFeed is also establishing BuzzFeed Studios as a content production arm and plans to spin off its Tasty food brand as an independent entity. Updated
BuzzFeed could try to sell more stock to raise cash, but the stock could drop to half of where it trades today.
Buzzfeed posted an ugly fourth quarter, but its forecast for the first quarter of this year was much worse.
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BuzzFeed, Inc. (Nasdaq: BZFD) is a digital media company operating across pop culture, entertainment, shopping, food, and news.
The Wall Street consensus 12-month price target for BZFD is $1.00.