On March 23, ViacomCBS topped $100 a share, which valued the parent of CBS, Nickelodeon, MTV, Comedy Central, Showtime and Paramount Pictures at $60 billion. Late last week, the stock collapsed. The rout continued Monday, resulting in a five-day sell-off that erased more than $30 billion in market value.
Full Answer
Why is Viacom stock down?
ViacomCBS stock (NASDAQ: VIAC) has lost almost half of its value in just the last three months as the stock dropped from $80 to $42 currently. The market had been over enthusiastic about the stock since the beginning of 2021 due to its effort of transforming to a streaming giant from a traditional cable media company.
Why did Viacom stock fall?
The stock price slumped 23% last Wednesday after ViacomCBS announced pricing of its $3 billion stock sale in part to fund investment in streaming content, a move that would dilute the equity of...
Who is ViacomCBS owned by?
Who owns ViacomCBS now? Redstone controlled 80 percent of voting shares in National Amusements. His daughter Shari controlled the remaining 20 percent. National Amusements controls 79.4 percent of...
Why is ViacomCBS stock up?
ViacomCBS had seen its short interest creep up over the past year, reaching nearly 20% of all shares outstanding as of Jan. 15. As many hedge funds began to cover their shorts, these types of stocks surged in January.
What happened to ViacomCBS?
To put a bow on it all, ViacomCBS will be renamed Paramount Global—after the company's more-than-century-old Hollywood film studio—and its stock ticker will change to “PARA” on Thursday.
What is the new ticker symbol for ViacomCBS?
It's the latest shift from ViacomCBS (ticker: VIAC) that pushes expected earnings farther out into the future, and investors don't appear willing to go along with management's optimism just yet.
Who owns ViacomCBS stock?
CEO Robert Bakish and Chair Shari Redstone Bought Up ViacomCBS Stock. ViacomCBS stock slumped after the media giant's latest quarterly report, but President and Chief Executive Robert Bakish and Non-Executive Chair Shari Redstone scooped up shares.
Should I buy PARA stock?
Out of 12 analysts, 3 (25%) are recommending PARA as a Strong Buy, 2 (16.67%) are recommending PARA as a Buy, 5 (41.67%) are recommending PARA as a Hold, 1 (8.33%) are recommending PARA as a Sell, and 1 (8.33%) are recommending PARA as a Strong Sell. What is PARA's earnings growth forecast for 2022-2024?
Is ViacomCBS now called Paramount?
ViacomCBS has renamed itself Paramount in a nod to the company's historic moviemaking past — and its streaming future. Chairwoman Shari Redstone announced the name change this week during a virtual investor day to share the company's strategy and upcoming programming.
Is CBS Paramount now?
Paramount Plus is a subscription streaming service that in spring 2021, replacing CBS All Access, CBS's former streaming platform that started in 2014.
Will ViacomCBS be sold?
30, 2021 /PRNewswire/ -- ViacomCBS Inc. (NASDAQ: VIAC, VIACA) today announced it has entered into a definitive agreement to sell CBS Studio Center and its associated operating business to a partnership formed by Hackman Capital Partners, LLC and Square Mile Capital Management, LLC for approximately $1.85 billion .
Is ViacomCBS going to be acquired?
On August 13, 2019, CBS and Viacom officially announced their merger; the combined company is named ViacomCBS; Shari Redstone serves as the chairwoman of the new company.
Will ViacomCBS be bought?
Share All sharing options for: ViacomCBS rebrands to Paramount in focus on streaming. ViacomCBS is getting a new name: Paramount. The media behemoth — which was created through the merger of CBS and Viacom in 2019 — said the rebrand is meant to focus on the company's goal of becoming a major player in streaming.
Is now a good time to invest 2021?
So, if you're asking yourself if now is a good time to buy stocks, advisors say the answer is simple, no matter what's happening in the markets: Yes, as long as you're planning to invest for the long-term, are starting with small amounts invested through dollar-cost averaging and you're investing in highly diversified ...
Which stock is best to buy now?
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Is Paramount a good stock?
Valuation metrics show that Paramount Group, Inc. may be undervalued. Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of PGRE, demonstrate its potential to outperform the market.
How much did Hwang pay to settle the SEC charges?
Hwang and his firms agreed to pay $44 million to settle the SEC’s charges. It’s not clear when Hwang’s Archegos Capital Management took its large positions in Chinese internet companies, including Tencent Music Entertainment Group, and U.S. media companies ViacomCBS and Discovery.
Is Viacomcbs a bullish company?
One year after panic on Wall Street, media stocks including ViacomCBS, Discovery and Disney are booming. Investors are bullish on companies with streaming services. ViacomCBS, as one of the smallest of the major media companies, has unique challenges.
In a one-two punch to the gut, ViacomCBS stock gets double downgraded
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
What happened
Shares of broadcaster (and over-the-top streamer) ViacomCBS ( NASDAQ:VIAC) tumbled 10% through 11:45 a.m. EDT Wednesday after two separate analysts downgraded the stock within hours of each other.
So what
First to downgrade ViacomCBS today was Australian investment bank Macquarie. StreetInsider.com reported today that Macquarie cut ViacomCBS stock to "underperform" with a $78 price target, but gave no further details on that move. But separately, BMO Capital downgraded the stock -- also to "underperform" -- and on this one we do have some detail.
Now what
On top of all this, BMO says ViacomCBS stock has just plain "run too far" and climbed too high -- and whatever you think about the analysts' other objections, it's hard to argue with this one.
What happened
It was a roller-coaster month for ViacomCBS ( PARA 1.76% ), whose shares continued their surge from earlier in the year for the first three weeks of March before tumbling as a major investor was forced to dump his shares to cover losses elsewhere.
So what
For much of March, investors were encouraged by a drumbeat of good news from the entertainment company. Paramount+ successfully launched on March 4, joining the streaming fray at a time when Americans are eager for new home entertainment options, and analysts mostly cheered the pivot to streaming.
Now what
The company priced its secondary offering at $85 on March 24, but it's unclear if it was able to sell the stock at that price as shares were plunging quickly that week and finished the month at just $45.10.
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What network does ViacomCBS work with?
The service tapped ViacomCBS’s vast archive of content from the CBS broadcast network, Paramount Film Studios and several cable channels, including Nickelodeon and MTV. That shift matters because ViacomCBS has been hit hard by an overall decline in cable viewership.
Is Viacomcbs cheaper than cable?
As part of the agreement, ViacomCBS also plans to stream the games on Paramount+, which is much cheaper than a cable bundle.
About Viacom
Viacom Inc. operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment.
Headlines
VIAC Stock Alert: Should You Buy ViacomCBS Amid Plunge, Paramount Global Rebrand? - Investorplace.com
Viacom (NASDAQ:VIAB) Frequently Asked Questions
Viacom, Inc. (NASDAQ:VIAB) issued its quarterly earnings data on Thursday, November, 14th. The company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.03. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.44 billion.
