Top 5 Losers on Tuesday

2. Paramount Global (NASDAQ:PARA) has fallen 1.26% as of 1:13 PM ET. The streaming giant reported that Paramount+ led to an increase of 6.8 million subscribers in Q1 2022. However, this wasn’t backed by a corresponding increase in profits. Money-losing subscriber growth has rendered investors skeptical of Paramount Global’s (NASDAQ:PARA) streaming model. Moreover, Paramount Global’s (NASDAQ:PARA) chief financial officer revealed that the second quarter of the year would see the company’s direct-to-consumer subscriber growth decline by 3 million.

As of Q4 2021, Paramount Global (NASDAQ:PARA) was held by 21 hedge funds, up from 15 in the third quarter.