BuzzFeedNASDAQ: BZFD

On the heels of the Trump/Biden presidential debate, shares in Trump Media & Technology (NASDAQ: DJT ) surged in after-hours trading. However, it promptly nosedived after the markets opened.

Former Republican presidential candidate Vivek Ramaswamy met with BuzzFeed CEO Jonah Perriti for an hour after sending a letter to the media company's board of directors urging change.

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Former US presidential candidate Vivek Ramaswamy has reportedly urged Buzzfeed Inc (NASDAQ:BZFD) to overhaul its operations after increasing his stake in the company to 8.3%. He recommends cutting staff, focusing on video, and hiring new voices like former Fox News host Tucker Carlson.

Vivek Ramaswamy has called on digital media firm, BuzzFeed, to cut staff, invest in its audio and video capabilities, and hire high-profile “content creators” like Candace Owens and Tucker Carlson, in a letter to the media company's board.

BuzzFeed (NASDAQ: BZFD ) is among the media stocks that have come back to life in recent months. Indeed, shares of BZFD stock have surged from a low of less than 70 cents earlier this year to around the $3 level today.

Vivek Ramaswamy, who disclosed a big stake in BuzzFeed last week, sent a letter to the online publisher's board of directors asking for major changes from staffing and focus to the board makeup as well as an apology for previous reporting.

Vivek Ramaswamy has issued a seven-page letter to BuzzFeed, urging the media company to add three more board seats and adapt its business model to survive amid a decimated market value.

One person has bought shares of BuzzFeed for two months and owns a stake large enough to be disclosed. This investor wants to talk to management about maximizing shareholder value.