New York CNN —
BuzzFeed’s stock is soaring after former Republican presidential candidate Vivek Ramasamy revealed that he’s taken an activist stake in the beleaguered media company in a bid to adjust the firm’s strategy.
Shares of BuzzFeed gained more than 25% on Wednesday after a securities filing revealed that Ramaswamy has acquired a 7.7% stake in the company. The stock popped more than 82% earlier at its highs.
“Stay tuned,” Ramaswamy told CNN through spokesperson Tricia McLaughlin.
BuzzFeed did not immediately respond to CNN’s request for comment.
Ramaswamy “believes the securities
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