Why Shares of ViacomCBS Rose 30.2% in January
Shares of ViacomCBS (NASDAQ: VIAC) rose 30.2% in January, according to data provided by S&P Global Market Intelligence. The legacy TV network provider has been under pressure from cord-cutting over several years, and its stock fell to bargain-basement levels last year amid the pandemic.
But a big announcement regarding ViacomCBS' streaming ambitions, along with a little help from marketwide short squeezes, helped shares rocket higher in the first month of 2021.
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Source Fool.com
