Why Warner Bros. Discovery Stock Spiked Higher Today
It was another good day for Warner Bros. Discovery (NASDAQ: WBD) as the stock was up 4.1% on Tuesday at 3:08 p.m. ET. It had been up as high as 6.8% midday. It is the second day in a row that the entertainment company was a market mover, as it was up more than 3% Monday.
What drove its stock higher on a day when the Dow Jones Industrial Average and the S&P 500 were both in the red?
For starters, Warner Bros. Discovery has gotten a jolt from the success of its film DC League of Super-Pets, which finished first at the box office in its opening weekend, raking in $23 million last weekend. It is roughly in line with the amount of money Universal's animated film The Bad Guys made on its opening weekend in April, and that went on to make $246 million worldwide.
Source Fool.com
