Shares of Warner Bros. Discovery (NASDAQ: WBD) were taking a dive last month as the entertainment conglomerate felt the impact of the Disney-Charter dispute at the beginning of the month and as broader market sentiment soured.

The company also cut its earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance and made several changes to streaming platforms as it continues to refine its business strategy during a time of rapid change in the media landscape. Meanwhile, fears of higher interest rates prompted a broader sell-off weighing on Warner Bros. Discovery stock, which is dependent on consumer and advertiser spending.

As a result, the stock finished September down 17% according to S&P Global Market Intelligence.

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Source Fool.com