Why Did ViacomCBS Stock Jump More Than 5% In A Week?

by Trefis Team
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ViacomCBS stock (NASDAQ: VIAC) increased more than 5% in just the last one week. However, the stock is down 2% and 4% in the last ten days and last one month, respectively. The primary reason for last week’s stock rally has been the strong Q2 2021 results, where the company beat analysts’ expectations. One highlight of the report is global streaming revenue that increased 92% year-on-year. The company added 6.5 million streaming subscribers to bring its total to 42 million. That resulted in an 82% y-o-y increase in streaming subscription revenue, largely driven by its Paramount Plus service. Streaming advertising revenue was up 102%, driven by its ad-supported Pluto TV service, which has more than doubled its revenue for four straight quarters. Total revenue increased 8% to $6.56 billion, while diluted earnings per share (EPS) more than doubled to $1.50 compared to the previous year period.

In comparison to VIAC’s more than 5% rise, the broader S&P 500 increased 1% over the last one week. When we look at the change over the last one month, VIAC stock is down 4% as against a rise of 2% in the S&P 500. Now, is VIAC stock set to rise further or could we expect some correction? We believe that there is a 51% chance of a rise in VIAC stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last ten years. See our analysis on VIAC Stock Chance of Rise for more details.

Twenty-One Day: VIAC -4.1%, vs. S&P500 1.9%; Underperformed market

(25% likelihood event; 51% probability of rise over next 21 days)

  • ViacomCBS stock decreased 4% the last twenty-one trading days (one month), compared to broader market (S&P500) rise of 2%
  • A change of -4% or more over twenty-one trading days is a 25% likelihood event, which has occurred 630 times out of 2517 in the last 10 years
  • Of these 630 instances, the stock has seen a positive movement over the next twenty-one trading days on 320 occasions
  • This points to a 51% probability for the stock rising over the next twenty-one trading days

Ten Day: VIAC -2%, vs. S&P500 1.1%; Underperformed market

(32% likelihood event; 48% probability of rise over next 10 days)

  • ViacomCBS stock decreased 2% over the last ten trading days (two weeks), compared to broader market (S&P500) rise of 1%
  • A change of -2% or more over ten trading days is a 32% likelihood event, which has occurred 795 times out of 2517 in the last 10 years
  • Of these 795 instances, the stock has seen a positive movement over the next ten trading days on 383 occasions
  • This points to a 48% probability for the stock rising over the next ten trading days

Five Day: VIAC 5.2%, vs. S&P500 1.1%; Outperformed market

(12% likelihood event; 60% probability of rise over next five days)

  • ViacomCBS stock increased more than 5% over a five-day trading period ending 8/11/2021, compared to broader market (S&P500) rise of 1%
  • A change of 5% or more over five trading days (one week) is a 12% likelihood event, which has occurred 293 times out of 2517 in the last ten years
  • Of these 293 instances, the stock has seen a positive movement over the next five trading days on 176 occasions
  • This points to a 60% probability for the stock rising over the next five trading days

 

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