ViacomCBS stock (NASDAQ: VIAC) jumped almost 9% in the last one week (five trading days) and has, in fact, completely outperformed the S&P 500 which declined 0.9% during this period. VIAC stock currently trades at $64 per share. The rise in stock price was driven by a couple of factors. Firstly, we are approaching the day (March 4) on which ViacomCBS will unveil its new streaming service Paramount+, at a time when demand for streaming has increased sharply over the last one year. Secondly, VIAC has also made considerable progress in its cable business by renewing contracts with 13 local TV affiliates from Sinclair Broadcasting, which will boost VIAC’s affiliate revenue in 2021. Additionally, the stock has also benefited from improvement in the overall sentiments in the market following the vaccine rollout, which has led to expectations of VIAC’s theme parks and other traditional businesses to get back on track in the coming quarters. But, is VIAC stock set to continue its upward trajectory or could we expect some correction? We believe that there is an 82% chance of a rise in VIAC stock over the next month (twenty-one trading days) based on our machine learning analysis of trends in the stock price over the last five years. See our analysis on VIAC Stock Chances Of Rise for more details.
5D: VIAC 8.8%, vs. S&P500 -0.9%; Underperformed market
(5% likelihood event)
- ViacomCBS stock rose 8.8% over a five-day trading period ending 2/23/2021, compared to the broader market (S&P500) decline of 0.9%
- A change of 8.8% or more over five trading days is a 5% likelihood event, which has occurred 57 times out of 1256 in the last five years
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10D: VIAC 18%, vs. S&P500 -0.6%; Outperformed market
(1% likelihood event)
- ViacomCBS stock rose 18% over the last ten trading days (2 weeks), compared to the broader market (S&P500) decline of 0.6%
- A change of 18% or more over ten trading days is a 1% likelihood event, which has occurred 13 times out of 1240 in the last five years
21D: VIAC 41%, vs. S&P500 1.4%; Outperformed market
(<1% likelihood event)
- ViacomCBS stock rose 41% the last twenty-one trading days (1 month), compared to the broader market (S&P500) rise of 1.4%
- A change of 41% or more over twenty-one trading days is a <1% likelihood event, which has occurred only 11 times out of 1198 in the last five years
While ViacomCBS stock may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how how the stock valuation for Netflix vs Tyler Technologies shows a disconnect with their relative operational growth. You can find many such discontinuous pairs here.