What's Going On With BuzzFeed (BZFD) Stock?

BuzzFeed Inc BZFD shares are trading lower by 11.9% to $3.93 during Thursday’s session, pulling back following earlier strength. The company announced the sale of First We Feast to an affiliate of Soros Fund Management for $82.5 million in cash.

What To Know: Per the company, the sale enables BuzzFeed to exceed its remaining debt with cash reserves after also partially prepaying convertible notes. BuzzFeed says this move marks a strategic pivot away from lower-margin content towards high-margin areas like programmatic advertising and affiliate commerce.

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CEO Jonah Peretti emphasized the company’s transformation, highlighting investments in AI-powered interactive experiences and scalable tech-enabled services as key growth drivers.

CFO Matt Omer noted significant debt reduction—over $150 million since December 2023—and projected stronger profitability, with adjusted EBITDA expected to grow by $12.7 million compared to 2023.

The performance of “First We Feast,” classified as a discontinued operation, will no longer factor into BuzzFeed’s financial results. For the fourth-quarter of 2024, the company expects revenues of $54–$58 million and adjusted EBITDA of $4–$9 million, excluding First We Feast's contributions.

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How To Buy BZFD Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in BuzzFeed’s case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, BZFD has a 52-week high of $5.68 and a 52-week low of $0.64.