Vivek Ramaswamy can't even dunk on Buzzfeed right

Vivek Ramaswamy has acquired 8% of Buzzfeed, attempting to challenge the company's management, but faces a significant obstacle as Jonah Peretti controls 96% of the Class B stock with superior voting rights. Ramaswamy's investment has temporarily boosted Buzzfeed's share value, raising questions about his true intentions, whether it's a quick profit-making scheme or a strategic move for public relations and media influence. Despite his efforts, Ramaswamy's influence on Buzzfeed is minimal due to Peretti's dominant control, and the critique suggests that targeting a platform like Facebook might have been a more impactful strategy.

Vivek Ramaswamy, a former Republican presidential candidate, took significant actions regarding BuzzFeed's stock. He acquired an 8 percent stake in BuzzFeed, which was a strategic move as part of his broader activist efforts within the company3. This purchase was not just a financial investment but also a move to influence the company's direction. Ramaswamy sent a letter to BuzzFeed's CEO, Jonah Peretti, which the news article describes as a "nastygram," indicating a confrontational approach to suggesting changes within the company4.

Ramaswamy's actions led to a significant increase in BuzzFeed's stock price, which closed at $3.00, up from his purchase price of $1.80 per share. This represents a 66 percent profit, suggesting that his investment had a substantial impact on the stock's market performance. His involvement with BuzzFeed appears to be part of a larger strategy to reshape its editorial and operational strategies, although the article hints at skepticism regarding the effectiveness and genuineness of his intentions.