(Finance) – Effervescent Buzzfeedwhich is trading with a decidedly positive performance of 15.18%.
The entertainment and gossip-focused news aggregator ended its second quarter with a net loss that fell from $27.8 million, or 63 cents a share, to $7.5 million, or 18 cents a share.
BuzzFeed, however, reported a 24% drop in revenue to $46.9 million, but was in line with the company’s previous guidance.
On a weekly basis, the comparative trend is Buzzfeed shows a more marked trend than the trendline of the Nasdaq 100. This demonstrates the greater propensity to purchase by investors towards Buzzfeed compared to the index.
For the medium term, the technical implications assumed by Buzzfeed are still read in a negative light. Some signs of improvement emerge instead for the short-term setting, read through the fastest indicators that highlight a decrease in the speed of descent. A slowdown in the descent approaching 2.457 USD is possible at this point. The most immediate resistance is estimated at 2.667. Expectations are for an intermediate reaction phase aimed at repositioning the technical framework on more balanced values and target at 2.877, to be reached in a reasonably short time.