BuzzFeed Running on WSJ Report of Meta Deal
Update- 27 January 2023- Yesterday we thought that BuzzFeed’s setup was favorable to challenge its October and November trading levels. Not only did it blow through that, it held that level at yesterday’s close. Then it traded higher in afterhours trading.
This morning it’s traded above yesterday’s $2.88 high and, if the strong volume continues, it may try to challenge the $4+ trading level. If it drops below this morning’s $2.42 low, it may be best to exit and wait for it to consolidate.
26 January 2023 (24/7 MARKET NEWS) – BuzzFeed, Inc. (Nasdaq: BZFD) is trading higher on strong volume after the Wall Street Journal reported Meta (Nasdaq: META) agreed to pay BuzzFeed to produce creator content for Facebook and Instagram.
BuzzFeed is trading at $1.20, up $0.249 (+26.25%), on volume of 1.2 million shares traded.
Its 52-week range is $0.6372 to $5.71. If can break through the $1.25 resistance level, on strong volume, it could try to challenge its October and November trading levels.
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