Why ViacomCBS Stock Tumbled 30% Last Month

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It was a roller-coaster month for ViacomCBS (NASDAQ: VIAC), whose shares continued their surge from earlier in the year for the first three weeks of March before tumbling as a major investor was forced to dump his shares to cover losses elsewhere.

The broadcaster, which owns CBS, Comedy Central, Nickelodeon, MTV, and other networks, gained early in the month as it launched its new streaming service, Paramount+, but finished the month down 30% according to data from S&P Global Market Intelligence

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