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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Dots

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Friday, November 04, 2022

WBD: Another Parabolic Stock Bites The Dust

Warner Brothers Discovery, Inc. (WBD) hit a record high of 78.14 in March 2021, following a parabolic spike that began in November 2020, as shown on the following monthly chart.

It's since plunged, as is characteristic of these parabolic moves, and, as of early Friday afternoon, is trading at 10.49...a drop of 85.39%.

I don't see any evidence in its price action that it will recover any time soon, particularly since one of its subsidiaries is CNN, whose ratings are consistently well below its rival cable TV news outlets, and where a number of prime time TV hosts have, reportedly, been fired recently, as a result.