Why Is BuzzFeed (BZFD) Stock Up 40% Today?

As has been the case with a number of high-profile special purpose acquisition company (SPAC) mergers, the past three years have been rather dim for most de-SPAC companies. BuzzFeed (NASDAQ:BZFD) is certainly one company that can be included in this group. BZFD stock is now trading around 25 cents per share — a far cry from the company’s $10 SPAC merger price a little more than two years ago.Of course, a lot has changed since the height of the hype-driven market in late-2021. Online media companies are stru ...