Viac Stock

Viac Stock – Shares of ViacomCBS were one of the biggest victims of a turnover in media and related stocks on Friday. According to early market reports, large stakes have begun to sell in Viacom and Discovery. Over the weekend, reports and rumors emerged that the sale was linked to Archegos Capital Management. IPO Edge broke the story.

Shares of ViacomCBS closed Friday at $48.23, a loss of 27.3%! VIAC shares traded above $100 earlier in the week.

Shares of ViacomCBS were already under selling pressure when it announced a capital increase through Class B common stock and convertible preferred stock. The combined offering is expected to raise between $2.65 billion and $3 billion. VIAC said it will use the funds for general corporate and streaming investment purposes. The rise of streaming, Netflix and Disney+ changed the landscape, and ViacomCBS had to adapt quickly to keep up. Viacom is launching the Paramount+ streaming service in early 2021.

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VIAC shares were trading around $100 at the time of the announcement, and the shares were due to be issued at $85. VIAC shares fell 9% on the announcement. Moody’s said the increase is a positive development for credit.

Selling pressure intensified on Wednesday, March 24, with VIAC shedding 23% to close at $70.10. Thursday’s losses of more than 5% before Friday’s close saw ViacomCBS shares fall below $40 before closing at $48.23 for a 27% loss.

On Friday, rumors began to circulate about ViacomCBS giving away large blocks of stock. Over the weekend, reports emerged from multiple sources that the sale was due to the liquidation of positions held by Archegos Capital Management. It should be noted that this has not been confirmed but has been widely reported in the financial media.

The problem seems to be the accumulation of positions taken by Archegos on a small number of drives. Migration can be self-sufficient in this case. Selling pressure is coming to stocks. The client is asked to deposit an additional amount in his investment bank to cover the losses. If the client is unable to provide additional funds, the investment bank will sell the client’s positions until it has enough funds to reduce its exposure. That seems to be the case here.

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Other shares were also picked up in block sales with Discovery and Baidu said to be part of mandatory liquidations. Baidu (BIDU) went from $260 to $200 in the last three sessions. Discovery (DISCA) lost nearly 50% of its value last week.

Investment bank stocks are all down in European trade this morning. Credit Suisse warned of strong first quarter results from its exit positions with a large US Nomura made a similar statement.

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Viacomcbs Inc. Esg Profile (viac): Is It Sustainable?

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ViacomCBS is a legacy media company that owns popular networks and television shows. However, popular pay TV providers have come under pressure from the success of streaming platforms led by Netflix. As a result, Viacom has outlined plans to grow and sell its Paramount+ business, formerly CBS All Access.

The company announced on March 22 a $3 billion (£2.2 billion, €2.6 billion) offer to invest in its streaming business. This was not well received by investors and the stock fell more than 9% on March 23. This was the beginning of problems for the company, which were exacerbated by the forced liquidation of positions held by the multi-billion dollar family office , Archegos Capital. Management.

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VIAC’s stock price fell from $100.34 on March 22 to $45.01 on March 29. So this justifies the question: Is VIAC a good stock to buy after a major correction?

The most important thing to consider is: Why is Viacom’s stock down? Although some of the decline may be due to traders taking profits after a sharp rise and ahead of the proposed stock cut, much of the decline was due to reduced trading volume rather than weak fundamentals.

Viacom is late to the streaming business. However, the company knows how to produce great shows. The company’s goal of reaching around 65-75 million streaming users worldwide – up from 30 million in 2020 – seems achievable. If this happens, the title can be re-evaluated. So, the fundamentals look positive.

VIAC’s share price rose from $10.10 in March 2020 to $101.97 in March 2021, a gain of 909.60% in one year. The rally pushed the relative strength index (RSI) above 95, indicating that the stock is overbought.

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Typically, bullish rallies are followed by sharp declines, and that was the case for ViacomCBS’s stock price in March. The selloff sent the price down to the 61.8% Fibonacci retracement level of $45.19, which is currently acting as support.

After a 50.46% drop last week, the stock may try to stabilize at current levels and form a bottom. A rise above the 20-week EMA will be the first sign that buyers are returning.

The positive outlook will be invalidated if the stock falls below the 50-week SMA. If this happens,

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