Warner Music Group Stock Hits Record Lows

The stock is brushing off a bull note from Goldman Sachs

Deputy Editor
Oct 11, 2022 at 10:42 AM
facebook X logo linkedin

Warner Music Group Corp (NASDAQ:WMG) is extending last session's record lows, down 2% at $21.91 at last check, despite a brand-new bull note from Goldman Sachs after the close yesterday. The firm initiated coverage with a "buy" rating and $32 price target, noting the potential for long-term growth in the coming years. Today, however, Barclays chimed in with a price-target cut to $30 from $33. 

WMG has been slipping since its early August rally was rejected by the 140-day moving average, and recently broke below previous support at the $24 level. Currently, the equity is down 48.8% year-to-date, and earlier hit a fresh record low of $21.57. 

The majority of analysts are bullish on Warner Music Group stock, with 10 of the 12 in coverage now carrying a "buy" or better rating after yesterday's note. Plus, the 12-month consensus price target of $32.13 is a 46% premium to current levels. 

Short interest has added 17.9% during the most recent two-week reporting period, now representing 4.4% of the stock's available float. At WMG's average pace of trading, it would take a week to buy back these bearish bets. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI