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.

Expect mo…