12 Best Nasdaq Stocks Under $20 to Buy Now

2. Warner Bros. Discovery Inc. (NASDAQ:WBD)

Current market price: $9.89

Upside Potential: 42%

Number of Hedge Fund Holders: 64

Warner Bros. Discovery Inc. (NASDAQ:WBD) is a global media and entertainment company. The company creates and distributes a portfolio of content and products across television, film, streaming, interactive gaming, publishing, themed experiences, and consumer products. Some of its brands include Discovery Channel, Max, CNN, DC Studios, TNT Sports, HBO, Food Network, and Warner Bros. Motion Picture Group.

The company reported its Q4 2024 results on February 27, where the most noticeable metric was an increase of 6.4 million global subscribers in Q4, to reach total global Direct-to-consumer (D2C; streaming business) subscribers to 116.9 million. Overall revenue came in at $10.0 billion, down 1% year-over-year including currency impact (ex-FX). On the other side, total adjusted EBITDA increased 11% year-over-year to $2.7 billion, and reported net income was a loss of around $500 million, which was weaker-than-expected.

Growth outlook for Warner Bros. Discovery Inc. (NASDAQ:WBD) looks healthy. The company is focussing on improving its D2C operating profit margin and expanding its international market, especially with the international launch of its streaming service, Max. It also aims to reach 150 million D2C subscribers by the end of 2026.

On March 5, a Citi analyst increased the price target for Warner Bros. Discovery Inc. (NASDAQ:WBD) from $13 to $15 while maintaining a Buy rating. The analyst expects sentiment around the company to improve further, particularly as industry consolidation gains momentum in the latter half of 2025 and into 2026.