Warner Bros. Discovery Stock: Buy, Sell, or Hold?
Warner Bros. Discovery (NASDAQ: WBD) is making headlines in 2023 for, among other things, the overhaul of its flagship streaming platform, cuts at Turner Classic Movie, dropping CNN ratings, and involvement in the ongoing writers strike. However, despite all the controversy, the stock has surged by approximately 30% year to date.
Still, like any good narrative, there's more than meets the eye with this company. So, let's examine Warner Bros. Discovery's brief history as a public company and evaluate whether its stock should be considered a buy, sell, or hold.
In April 2022, AT spun off Warner Media, owner of well-known brands like DC Comics, HBO, and Warner Bros. Warner Media immediately merged with Discovery, known for lifestyle brands like Discovery Channel and HGTV. The resulting company was Warner Bros. Discovery, which began trading for $24 per share, meaning the stock is down roughly 49% since its public debut.
Source Fool.com
