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Paramount Global Class B’s shares have shown notable resilience in the face of market turbulence, marking a third consecutive day of gains on Tuesday. The shares rose by 1.63% to $12.46, continuing their upward trend despite trading volumes being below the typical average of 11.5 million, standing at 8 million.
This performance is particularly noteworthy given that it comes amidst a broader downturn in the market, with stocks of competitors such as Apple (NASDAQ:), Amazon (NASDAQ:), and Netflix (NASDAQ:) experiencing decreases. Paramount’s robust performance under these conditions underscores its strong market position.
Despite the recent gains, Paramount’s share price remains below its February 2, 2023 peak of $25.93. The company’s ability to sustain its current momentum and regain its previous highs will be closely watched in the coming weeks and months.
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