BuzzFeed stock slips 3% postmarket after Comcast cuts stake
Drew Angerer


BuzzFeed (NASDAQ:BZFD) stock slipped 3.2% after the bell on Monday as Comcast (CMCSA) cut its stake in the media outlet to 15.9% from ~20% earlier.
From February 2 to February 6, Comcast (CMCSA) sold a little over 5.1M class A shares of BuzzFeed (BZFD) in the open market.

As of February 6, Comcast (CMCSA) beneficially owned ~20M class A shares of BuzzFeed (BZFD).
This represents less than 5% of the total voting power of BuzzFeed's (BZFD) outstanding class A, class B and class C stock on a combined basis, as of November 10.
BuzzFeed (BZFD) stock climbed 10% in the last six months, but SA Quant warns that it is at high risk of performing badly.
Earlier, BuzzFeed (BZFD) stock more than doubled on its engagement with OpenAI to boost more content.