Wolfe Research analyst Peter Supino ended his bearish call on Paramount's stock.
Wolfe Research analyst Peter Supino ended his bearish call on Paramount Global Inc. recently following the announcement that majority shareholder National Amusements obtained a $125 million preferred equity investment.
“The... Wolfe Research analyst Peter Supino ended his bearish call on Paramount Global Inc. recently following the announcement that majority shareholder National Amusements obtained a $125 million preferred equity investment. “The collateral for the loan amounts to a significant minority of [National Amusements’] 9.7% Paramount equity stake,” Supino wrote. “Given the Redstones’ financial situation appears even more pressing, we highly doubt that [National Amusements Chief Executive] Shari Redstone’s commitment to Paramount’s current money-losing strategies would be so great as to lead her towards surrendering those shares.
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