Why I Doubled Down On Warner Bros. Discovery

SOPA Images/LightRocket via Getty ImagesNot As Bad A Quarter As The Stock Price Suggests Warner Bros. Discovery (NASDAQ:WBD) was destined to have a tough fourth quarter of 2023. Most of the problems were known ahead of time. The SAG-AFTRA actors strike persisted into November, shutting off the content pipeline, and the industry was still recovering from the WGA writers' strike which ended a few days before the start of 4Q. The advertising market also had been sluggish, as was noted on the 3Q earnings ca ...