Paramount+ stock value plummets following quarterly update
Paramount Global stock plunged 28% on Thursday.
Wall Street didn’t take too kindly to Paramount Global announcing a $1.1 billion loss this past quarter. Stock value dropped by a massive 28%.
Of course, it likely wasn’t just the financial hit the company took. The biggest concern: Paramount also revealed it will cut its quarterly dividend to 5 cents a share from 24 cents a share to save cash.
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