BuzzFeed Rises After Pulte Takes Activist Stake, Backs Ramaswamy
- Family backs Vivek Ramaswamy’s efforts to redirect the company
- BuzzFeed shares rose as much as 28% during the session
This article is for subscribers only.
Shares of BuzzFeed Inc. closed higher on Tuesday after the founding family of US homebuilder PulteGroup Inc. disclosed an activist stake in the struggling media company.
The Pulte family threw its weight behind former Republican presidential candidate Vivek Ramaswamy, the online platform’s second biggest shareholder, saying that it supported the changes he is seeking from its management.