Warner Bros. Discovery Is Desperate to Find the Bottom
Warner Bros. Discovery ( WBD ) launched with high expectations and cheap stock. CEO David Zaslav needs big profits to pay off its big debts. If he can get profits back to last year’s level, WBD stock is dirt cheap. Source: Koshiro K | Shutterstock.com Since breaking away from ATT (NYSE: T ) last month, Warner Bros. Discovery (NASDAQ: WBD ) has been desperately seeking a bottom. WBD stock is down 31% just since April 19, while the Nasdaq is down by 16%. It opened May 24 below $18, with a market cap of $44 billion and just 10 times last year’s earnings. The company, pulled together by CEO David Zaslav, thought it had a good story to tell in streaming. But investors don’t want to hear it. Thus, he told a different story about WBD stock being a “fifth broadcast network.” They didn’t want to hear that, either. WBD Warner Bros. Discovery $16.91 WBD Stock and Its Recent Upfront Zaslav premiered his new executive style at the “upfronts,” an obsolete event from TV’s past where networks would sell their fall schedules. 7 Large-Cap Stocks to Buy Right Now Streaming and the pandemic have made the upfronts look very 20 th century.
Warner Bros. Discovery Is Desperate to Find the Bottom
Warner Bros. Discovery ( WBD ) launched with high expectations and cheap stock. CEO David Zaslav needs big profits to pay off its big debts. If he can get profits back to last year’s level, WBD stock is dirt cheap. Source: Koshiro K | Shutterstock.com Since breaking away from ATT (NYSE: T ) last month, Warner Bros. Discovery (NASDAQ: WBD ) has been desperately seeking a bottom. WBD stock is down 31% just since April 19, while the Nasdaq is down by 16%. It opened May 24 below $18, with a market cap of $44 billion and just 10 times last year’s earnings. The company, pulled together by CEO David Zaslav, thought it had a good story to tell in streaming. But investors don’t want to hear it. Thus, he told a different story about WBD stock being a “fifth broadcast network.” They didn’t want to hear that, either. WBD Warner Bros. Discovery $16.91 WBD Stock and Its Recent Upfront Zaslav premiered his new executive style at the “upfronts,” an obsolete event from TV’s past where networks would sell their fall schedules. 7 Large-Cap Stocks to Buy Right Now Streaming and the pandemic have made the upfronts look very 20 th century.