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BuzzFeed Tumbles in Turbulent Debut for Digital Media

  • Company is in talks to make Michael Del Nin its new president
  • Sector needs ‘strong public company,’ co-founder Peretti says
The Buzzfeed Inc. application. 

The Buzzfeed Inc. application. 

Photographer: Andrew Harrer/Bloomberg

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BuzzFeed Inc. shares fell in their first day of trading, a sign investors are wary of the digital media company after a shaky lead-up to its public debut.

The stock, which trades on the Nasdaq under the ticker symbol BZFD, was down 12% at 11:15 a.m. in New York, after surging earlier in the day. Shares of the blank-check company that BuzzFeed merged with to go public had closed at $9.62 on Friday.