3 Reasons to Avoid Warner Bros. Discovery Stock in 2023
Investors had high hopes for Warner Bros. Discovery (NASDAQ: WBD) when the stock went public last April. However, the media merger has thus far been a disappointment. The stock fell quickly after the new company was formed last April and is down 54% since then.
Warner Bros. Discovery resulted from the merger between AT&T's WarnerMedia spin-off and Discovery Communications, and the company owns a number of high-profile media assets. Those include the Warner Bros. studio, HBO, the Turner networks such as CNN, TNT, and TBS, and Discovery's cable channels like HGTV and the Food Network, in addition to the Discovery-branded channels.
However, investors hoping for a comeback from the streaming stock in 2023 may want to look elsewhere. Here's why you're better off avoiding Warner Bros. Discovery stock this year.
Source Fool.com
