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  • BuzzFeed Stock Drops About 40%, Analyst Cites Lockup Agreements
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BuzzFeed Stock Drops About 40%, Analyst Cites Lockup Agreements

By Deandra Arollo 2 months ago

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  • Buzzfeed’s inventory dropped about 40% on Monday.
  • It really is now worth about $300 million, for every Yahoo Finance, much beneath its June IPO selling price of $1.5 billion.
  • Just one analyst explained lockup agreements expired and the firm has quite a few “non-traditional” investors.
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BuzzFeed’s inventory dropped about 40% on Monday, putting its


industry cap

under what AOL compensated for HuffPost in 2011. 

The media firm’s industry capitalization is at about $300 million, for each Yahoo Finance. In 2011, AOL acquired HuffPost for $315 million, according to the New York Situations. BuzzFeed afterwards purchased HuffPost from Verizon.

In early December, Buzzfeed went general public by way of a SPAC merger. Its daily life post-IPO has been rocky in its initial earnings get in touch with as a public corporation, it reduce its workforce, termed for buyouts in its news division, and missing a few best editors.

One analyst who watches the organization and requested to be unnamed due to the fact of the sensitivity of the issue, informed Insider the motive is reasonably easy: lockup agreements for quite a few of Buzzfeed’s shareholders who bought stock in the firm ahead of it went general public by means of SPAC in December expired early this June. 

What tends to make BuzzFeed’s circumstance “one of a kind,” the analyst additional, is that the media firm has a “weighty concentration” of what they referred to as “non-common” investors, these kinds of as publishing companies. 

“This was the to start with and greatest lockup to expire,” the analyst additional. 

A BuzzFeed spokesperson verified the fluctuation was connected to the expiration of the lockup period of time

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