Is Discovery Inc. less than $30?Via stock news

Since hitting a record high of US$78.14 on March 19, 2021, the stock price of the well-known media company Discovery (NASDAQ:) has fallen sharply and closed at US$28.18 during the Friday trading session. This was partly due to the liquidation of its Archegos Capital position and the decline in the bottom line in the first quarter. So, can the stock price rebound due to interest in the creation of “Warner Bros. Discovery”? continue reading. Let us find out. Discovery, Inc. (DISCA) has a series of networks including Discovery Channel, Animal Planet and Oprah Winfrey Network, as well as various types of content covering natural history, sports, food, and tourism. It is the most popular One of the networks of concern. Mass media company. With the announcement of the merger with AT&T Inc. (T) WarnerMedia in May 2021, it has established multiple strategic alliances and has attracted great attention.

However, the stock has fallen 62.9% since it hit a record high of $78.14 on March 19, 2021. It has fallen by 7.5% in the past month and closed at $28.18 during Friday’s trading session.

Part of the reason for the stock’s plunge was that it was forced to liquidate its Archegos Capital position. DISCA also faces fierce competition from other players in the growing global streaming media market, such as Netflix, Inc. (NASDAQ:), The Walt Disney The company (NYSE:) Disney+, and DISH network Company (NASDAQ:). In addition, as Amazon (NASDAQ:) reached an agreement to acquire film and television company MGM in May 2021, the streaming media field is expected to become more competitive. Therefore, DISCA’s near-term prospects look uncertain.

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