What's going on with 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.
Is ViacomCBS stock a buy?
Jim Cramer says ViacomCBS is a buy, sees more room for the dividend-paying stock to run. CNBC's Jim Cramer said Wednesday he believes ViacomCBS is an attractive investment right now. The “Mad Money” host cited the company's dividend payment and improving fundamentals.
Will Viacom stock go back up?
ViacomCBS (NASDAQ:VIAC) shareholders have had an almost indescribable 2021. VIAC stock started off the year with a surge that saw shares shoot up in value 174% by mid-March.
Why did VIAC stock spike?
Among the biggest factors: the company launched its Paramount+ streaming service on March 4, 13 key CBS TV affiliates signed multi-year contract renewals in January, and retail investors began to target VIAC shares. The result was VIAC stock closing at $100.34 on March 22, for a 174% increase to that point in 2021.
Why is Viacom stock so low?
ViacomCBS is facing major structural challenges. 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.
Why did Viacom stock fall?
ViacomCBS' (Nasdaq:VIAC) stock dropped more than 20% Wednesday after the company said it would rebrand as Paramount and reorient itself further around streaming.
Is VIAC a trade?
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. In midday trading on Friday, things weren't much brighter for Paramount.
What is the new stock symbol for ViacomCBS?
PARAThe name change, which makes total sense, is effective today and the company starts trading tomorrow under new stock symbol PARA.
Is Viacom going out of business?
The second merger between Viacom and CBS Corporation, creating the combined company ViacomCBS (now Paramount Global), was announced on August 13, 2019; the merger was completed on December 4, 2019....Viacom (2005–2019)Viacom's headquarters at One Astor Plaza in New York CityFounderSumner RedstoneDefunctDecember 4, 201922 more rows
How much debt does Viacom have?
The company now has a market value of about $24 billion, and net debt of about $13 billion.
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 .