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 is Viacom stock down?
Feb 16, 2022 · Shares of entertainment company ViacomCBS ( PARA -0.08% ), which announced Tuesday evening that it's changing its name to Paramount Global, reported earnings last night. Today, shares of Paramount ...
Why did Viacom stock fall?
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...
Who is ViacomCBS owned by?
Apr 06, 2021 · VIAC stock currently trades at $47. The stock had crossed the $100 mark on 22 nd March 2021 and has lost more than 50% of its value since then. The market had been over enthusiastic about the ...
Why is ViacomCBS stock up?
Apr 02, 2021 · ViacomCBS announced the stock offering after markets closed March 23. The next day, with the company flooding the market with millions of new shares priced at $85, the stock began to fall. The...
Is ViacomCBS a good buy?
Summary. ViacomCBS has a moat-worthy collection of assets, and its streaming business is rapidly growing. It maintains a strong balance sheet with plenty of cash on hand, and pays a well-covered dividend. It's seen material share price weakness in recent months, and appears to be trading in bargain basement territory.Jan 7, 2022
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
Is Viacom CBS undervalued?
The firm points out that ViacomCBS, which is having “greater success in streaming” as it now spends billions of dollars annually on content, is still significantly undervalued when compared to rivals like Netflix and Disney.Jan 10, 2022
Will VIAC go up?
Currently there's no upside potential for VIAC, based on the analysts' average price target.Jan 9, 2022
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 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.
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.
