Why Warner Brothers Discovery Stock Flopped on Friday
The current and, at least, near-term future of the entertainment industry is streaming video. So when one company heavily involved in this activity takes a tumble, others often follow. That was the case on Friday, when Warner Brothers Discovery (NASDAQ: WBD) stock was hit with a nearly 4% sell-off following the disappointing quarterly results of a peer.
That peer is Roku (NASDAQ: ROKU), which got slammed by investors after reporting its second-quarter results in after-market hours on Thursday. The company attributed its worse-than-expected performance to supply chain difficulties and a weakened macroeconomic environment.
Roku isn't known so much for its own streaming service; rather it's a platform used in many TVs to access such offerings.
Source Fool.com
