ViacomCBS (VIAC)(VIACA) has been one of the biggest disappointments in my portfolio. In less than 4 months since opening a long position, the company's stock lost nearly half of its value. Nevertheless, I'm optimistic about the company's future in the long run and believe that at the current price ViacomCBS is a bargain. With P/E of 2x, the company's stock is undervalued relative to its peers and it has several catalysts that will drive growth in the foreseeable future. The latest earnings report, which was released last week, showed that despite seeing a decline in advertising revenue due to the pandemic, its affiliate, streaming, and content licensing businesses were up Y/Y. By selling some of its real estate and publishing assets and improving its OTT offering, ViacomCBS will be able to create value in months to come. For that reason, I decided to double down my position at the current market price and increased the exposure of my portfolio to this stock.

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