Warner Bros. Discovery's stock price is in turmoil in the wake of bleak Q2 earnings and reports of a considerable $9.1 billion write-down. Amid rife speculation and disconcerting performance, the company is drawing the attention of investors. The company's shares have fallen to a 15-year low, with even long-term bulls contemplating an exit. This coincides with various financial institutions, such as Miracle Mile Advisors and Swedbank AB, reducing their stock positions. Amid recent developments, some insiders reportedly reconsidered their $1.37m stock purchases.
Furthermore, the company also missed Q2 sales targets, resulting in the bearish momentum in the stock market. Importantly, Warner Bros. Discovery is considering major restructuring, reportedly contemplating a breakup to boost stock performance. They may also be looking into the potential of a streaming spinoff. Despite these decisive actions, Warner Bros. Discovery continues to struggle with "cord-cutting" leading to an approximately $10 billion quarterly loss. The company also recently failed to secure the NBA, negatively impacting the stock.
Warner Bros Stocks WBD News Analytics from Fri, 23 Feb 2024 08:00:00 GMT to Sun, 18 Aug 2024 12:09:33 GMT - Rating -8 - Innovation -6 - Information 7 - Rumor -5
