5 Michael Burry Stocks Other Hedge Funds Like Too

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

Percentage of Scion Asset Management’s portfolio as of Q2 2023: 0.27%
Number of Hedge Fund Holders: 67

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a media and entertainment company that produces and releases feature films for initial exhibitions in theatres. It also produces and licenses television programs to third parties and networks.

Warner Bros. Discovery, Inc. (NASDAQ:WBD) expects to take a hit of between $300 million and $500 million through the end of the year on the effects of writers and actors strikes. Consequently, it expects its adjusted earnings before interest, taxes, depreciation, and amortization to range between $10.5 billion and $11 billion.

As of the end of the second quarter of 2023, 67 hedge funds in Insider Monkey’s database of hedge funds had stakes in Warner Bros. Discovery, Inc. (NASDAQ:WBD), up from 63 in the previous quarter. It occupies the runner-up spot among the stock picks of Michael Burry that have found favor among fellow hedge funds.

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

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