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ViacomCBS Shares Sink 9% After $3 Billion Stock Sale Announcement

by Todd Spangler

ViacomCBS stock dropped nearly 9.1% Tuesday, as investors exited positions on news that the media conglomerate will sell up to $3.45 billion in stock as part of funding streaming content. The company's shares closed at $91.25 apiece, coming a day after ViacomCBS' announcement of plans to raise $3 billion in a stock offering. In addition, […]

SOURCE: Variety at 7:43pm on March 23, 2021