11 Best Stocks to Buy in Falling Markets Now

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7. Paramount Global (NASDAQ:PARA)

Number of Hedge Fund Holders: 44     

Decline in Share Price Over Past 12 Months: 18.7%

Paramount Global (NASDAQ:PARA) is a media and entertainment company with expertise in streaming, advertising, global markets, and consumer products. There are several compelling factors that make this company a strong investment. Firstly, as per the reports for the third quarter of 2024, Adjusted OIBDA (Operating Income Before Depreciation and Amortization) improved $287 million year-over-year to $49 million, which reflects the company’s ability to reduce its losses or increase profitability in its DTC operations, highlighting the success of its direct consumer-focused strategies or products. Moreover, the company has entered into an agreement with Skydance Media to form New Paramount – a next-generation media and technology leader, through a two-step transaction, including the acquisition of National Amusements, which holds the controlling share stake in Paramount, and subsequently a merger of Skydance and Paramount Global.

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