Vivek Ramaswamy's Stake Sends BuzzFeed Shares Soaring

Vivek Ramaswamy, a former Republican presidential candidate, has acquired a 7.7% stake in BuzzFeed for under $4 million, aiming to become an activist investor. Despite BuzzFeed's struggles and a dual-class stock structure that gives founder Jonah Peretti control, Ramaswamy believes the company's shares are undervalued and seeks to influence its management to increase their value. The exact motivations behind his investment remain speculative, ranging from financial gain to seeking media attention.