BuzzFeed (BZFD) Stock Soars Over 135% After Hours: What's Going On

BuzzFeed stock surged over 135% in after-hours trading following an announcement that Byron Allen's family office will acquire a 52% majority stake for $120 million ($3.00 per share). The deal includes a $20 million cash payment and $100 million promissory note. Despite the investment and planned AI expansion, BuzzFeed reported weak Q1 2026 results with 12.4% revenue decline and a $15.1 million net loss.