03:04 PM EDT, 07/16/2024 (MT Newswires) -- BuzzFeed ( BZFD ) was still 7% higher Tuesday, easing from an over 20% spike earlier, following the news that founding family of the PulteGroup ( PHM ) have acquired an "activist" stake in the internet news firm.

In a message posted on X, the family slammed current BuzzFeed ( BZFD ) management and said they are supporting efforts by Vivek Ramaswamy to steer the company in a new direction.

The family members, however, said they "were not working in concert" with Ramaswamy, a former Republican presidential candidate, who has been advocating for board changes, job cuts and other operational measures. Ramaswamy recently acquired an 8% stake in BuzzFeed ( BZFD ).

BuzzFeed ( BZFD ) did not immediately respond to a request for comment by MT Newswires.

Price: 3.01, Change: +0.20, Percent Change: +7.12