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 existing shareholders. Wall Street analyst downgrades that cautioned that ViacomCBS was overvalued also put pressure on the shares.
Why did ViacomCBS stock drop 23% Wednesday?
Mar 30, 2021 · Multiple downgrades, an ill-timed stock offering and, as a final blow, at least two large block trades linked to the forced liquidation of Archegos Capital Management, brought ViacomCBS down from a...
What happened to Viacom and discovery stocks?
Apr 06, 2021 · ViacomCBS stock (NASDAQ: VIAC) has plunged in the last one week, with the company losing almost half its market value in the last five days, completely underperforming the S&P500 which gained more ...
Should you invest in ViacomCBS?
Mar 24, 2021 · Brendan McDermid | Reuters Shares of ViacomCBS continued to plunge Wednesday, closing down 23%, as investors continued to react to a new stock sale and questioned the ability of the media company...
Why did ViacomCBS move Nickelodeon from cable?
Mar 26, 2021 · What happened Shares of media company ViacomCBS (NASDAQ: VIAC) fell as much as 40% on Friday after being downgraded by an analyst. At 2:40 p.m. EDT, shares were still down 33.1% and heading for a ...
Is VIAC a good stock to buy?
Investor Takeaway Meanwhile, VIAC sports a strong balance sheet with plenty of cash on hand, and pays a well-covered dividend. VIAC appears to be rather cheap at present for its quality, and I view it as being a Strong Buy while the market isn't paying attention.Jan 7, 2022
Why is Viacom stock so low?
Revenues had been flat for the past few years, and then declined in 2020 as Covid took its toll. The lack of growth is due to a popular trend: cord-cutting. Simply put, cable channels aren't worth the same to consumers as they were a decade ago.Aug 20, 2021
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.Feb 16, 2022
What happened to Viacom stock in March?
On March 22, the company triggered the VIAC collapse with a $3 billion stock offering intended to help finance its streaming service. $3 billion will pay for a lot of original programming. Shares slid to $91.25 the next day.Aug 13, 2021
Is Viacom overvalued?
At its current price of $41.7 per share and the market cap of $27.1 billion, ViacomCBS stock is estimated to be significantly overvalued.Jun 5, 2021
What does Jim Cramer say about Viacom?
“Viacom is a good value play in a world that suddenly cares about value,” Cramer said. Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.Jan 12, 2022
Did Viacom buy CBS?
The 2019 merger of CBS Corporation and Viacom was announced on August 13, 2019, and was completed on December 4, 2019.
Did VIAC change ticker?
The VIAC ticker symbol is no longer in use. That's unfortunate for the company known now as Paramount Global to Nasdaq. On its final day under the old ticker symbol, a $6.41 single-session slump was seen by the company formerly known as ViacomCBS.Feb 18, 2022
What company owns Viacom?
Its portfolio includes Network 10, Channel 5, Telefe, Viacom 18, ViacomCBS International Studios, Nickelodeon, MTV, Comedy Central, BET, Paramount Network and Pluto TV among others.
Why did Viacom stock drop in March 2021?
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 existing shareholders.Mar 29, 2021
How much debt does Viacom have?
The company now has a market value of about $24 billion, and net debt of about $13 billion.Nov 4, 2021
Is Viacom being 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 .Nov 30, 2021
What is total return swap?
Archegos relied on so-called “total return swaps,” which are brokered by Wall Street banks for a fee and allow investors to collect profits (or sustain losses) on a stock portfolio. Advertisement. A spokesman for Archegos declined to comment.
Who is Meg James?
Meg James is a corporate media reporter for the Los Angeles Times, covering the business of television and digital disruption in the entertainment industry. She has been a member of the Company Town team for more than a decade. She previously wrote for the Miami Herald and the Palm Beach Post.
Who is Shari Redstone's father?
Shari Redstone stepped in to assist her ailing father, the late media tycoon Sumner Redstone, after a tumultuous period and a high-profile legal battle waged with his former female companions. In the aftermath, the Redstone family ousted Viacom’s longtime chief and his allies on the board.
