By Jill Goldsmith Shares of ViacomCBS are surging 10% Monday, way outpacing an already buoyant market, as chair Shari Redstone told the company’s annual meeting that she’s committed to boosting shareholder value and a stock that’s been under immense pressure for months.
The shares are changing hands at about $19, well off a 52-week low of just over $10 – but still well under its highs. It was trading in the low $40 per share late last year.
Share price was a major theme at the first shareholder meeting of a combined ViacomCBS, where Redstone made the comments, and a welcome one for investors looking for reassurance that theh interests of the company’s controlling stakeholder are aligned with theirs.
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