7 Reasons BuzzFeed's Debut Crashed This Week
A household name in the Digital Age hit the market on Monday, and it's fair to say things didn't go well. BuzzFeed (NASDAQ: BZFD) went public after striking a deal to combine with special purpose acquisition company (SPAC) 890 5th Avenue Partners. Shareholders of the blank-check firm approved the combination late last week.
The new BuzzFeed-rebranded stock initially traded sharply higher on Monday, only to end its first day of trading 11% below the prior week's close of $9.62. Things only got worse with sharp downticks for the next three trading days. Let's break down the market's cold reception in a way that BuzzFeed fans can appreciate -- with a listicle.
You're not going to believe reason No. 4. Don't even get me started on reason No. 6.
Source Fool.com
