Warner Bros Discovery Stock Rises Despite Dismal Results

Options bulls are still betting on upside, however

Deputy Editor
Feb 24, 2023 at 10:46 AM
facebook X logo linkedin


Warner Bros Discovery Inc (NASDAQ:WBD) reported disappointing fourth-quarter results after the close yesterday, with losses of 86 cents per share alongside revenue of  $11.01 billion, compared to the anticipated losses of 21 cents per share and $11.36 billion in revenue. The security attracted three price-target hikes after the event, though, including one from J.P. Morgan Securities to $17 from $15. WBD is up 1.1% to trade at $15.90 at last check. 

Wolfe Research analyst Peter Supino noted the stock could soon "take a breather," as net debt remains high, and the security is sporting considerable year-to-date gains. Plus, the number of U.S. pay TV subscribers fell in the fourth quarter amid a switch to streaming. 

WBD is up 62.2% so far in 2023, though the stock appears to have run into pressure at the $16 level. The shares are also running into their 260-day moving average, which the equity hasn't conquered since June 2021. 

Over in the options pits, 25,000 calls and 16,000 puts have been exchanged so far today, which overall volume running at double the intraday average. The weekly 2/24 16-strike call is the most popular, but new positions are being opened at the 15.50-strike put in that same series.

 

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