5 Best Hot Stocks To Buy Now

4. Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Average 3-month Volume as of February 6: 28.81 million

YTD Share Price Gains as of February 6: 60.64%

Number of Hedge Fund Holders: 61

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a New York-based media company that delivers content across multiple platforms in around 50 languages worldwide. It creates, develops, and distributes feature films, television shows, video games, and other content in a variety of physical and digital formats through basic networks, direct-to-consumer channels, theatrical releases, TV programming, and gaming licenses. Warner Bros. Discovery, Inc. (NASDAQ:WBD) is one of the best momentum stocks to consider. 

On January 31, Macquarie analyst Tim Nollen raised the firm’s price target on Warner Bros. Discovery, Inc. (NASDAQ:WBD) to $20 from $16 and kept an Outperform rating on the shares as part of the firm’s Q4 media networks preview. The results “may be challenging,” but the firm believes that the negative impact of the merger is “over” and that the upcoming combined HBO Max/Discovery+ streaming service has the potential to showcase the value of its content and distribution assets. Macquarie considers Warner Bros. Discovery, Inc. (NASDAQ:WBD) to be its top choice in the media industry.

According to Insider Monkey’s third quarter database, 61 hedge funds were long Warner Bros. Discovery, Inc. (NASDAQ:WBD), compared to 68 funds in the last quarter. 

O’keefe Stevens Advisory made the following comment about Warner Bros. Discovery, Inc. (NASDAQ:WBD) in its Q4 2022 investor letter:

“Several positions within the portfolio deserve some reflection; however, the one deserving the most attention is Warner Bros. Discovery, Inc. (NASDAQ:WBD). Not surprisingly, it was one of the worst-performing stocks in our portfolio over the past year.

Warner Brothers Discovery (WBD) – One concept learned from Jeremy Raper at Raper Capital (@Puppyeh1 on Twitter) is “when there’s a massive pivot in biz model and under-delivery vs. clear IPO targets, it’s generally a big red flag.” While WBD is not a recent IPO, it went through a dramatic business model change. I recall two examples of companies that pivoted strategies…” (Click here to read the full text)