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ViacomCBS Investors Seem To Be Warming To Cost-Cutting Moves
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deadline.comBy Dade Hayes Finance Editor Even before COVID-19, the road has been a little bumpy for ViacomCBS since the company closed its long-awaited, $12 billion merger last December.
The company’s stock has lost more than half its value in the past few months. Bullish investors impressed by its reach and hefty cash flow have been outflanked by bears scrutinizing its scale and fretting about TV ratings erosion.
Heading into Thursday trading, however, the company’s stock is having one of its best weeks since it began trading. Shares closed Wednesday at $18.99, up 9% and the highest they have been since March 11.
They have risen more than 21% since Monday. Investors, as is often the case on Wall Street, appear to be rewarding news of cost-cutting at
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