8 Best Stocks Under $10 To Invest In Now

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

Number of Hedge Fund Holders: 48

Share Price as of September 27: $8.4 

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a leading global media company known for its extensive portfolio of entertainment, sports, and news assets. The company’s recent Q2 2024 earnings report showcased promising growth, particularly in its direct-to-consumer segment, driven by strategic initiatives and global expansion efforts. Warner Bros. Discovery, Inc. (NASDAQ:WBD) added 3.6 million new subscribers in Q2 2024, indicating strong demand for its streaming service, Max. This growth builds on the 2 million subscribers added in the previous quarter, pushing its total subscriber base to new heights.

The company’s financial performance in Q2 was marked by revenue stability and improved profitability. Adjusted EBITDA came in strong, with positive momentum setting Warner Bros. Discovery, Inc. (NASDAQ:WBD) up to achieve over $1 billion in EBITDA by 2025. Revenue from the direct-to-consumer segment was a standout, driven by international expansion and strategic partnerships. Advertising revenue also showed resilience, reflecting a 50% year-over-year increase in ad sales for Max, demonstrating the platform’s ability to attract advertisers despite broader market headwinds.

Warner Bros. Discovery, Inc. (NASDAQ:WBD) successful execution of the 2024 Summer Olympics broadcast strategy in Europe is a key highlight. The company capitalized on its multi-platform presence, broadcasting the event through Max, Discovery+, and Linear TV channels. This strategy paid off significantly, with over 141 million people engaging across its platforms. The Olympics not only boosted viewership but also led to a significant increase in subscriber growth for the company’s streaming service.

Additionally, the company’s focus on expanding its footprint in key international markets is another positive catalyst. Max is now available in 65 international markets, with plans to enter more regions in the coming quarters, including major markets like Australia, Japan, and the UK. Warner Bros. Discovery, Inc. (NASDAQ:WBD) is leveraging its strong global infrastructure and local content to drive growth, setting the stage for long-term value creation.

Despite a decline in the number of hedge fund holders from 55 in Q1 2024 to 48 in Q2, Warner Bros. Discovery, Inc. (NASDAQ:WBD) remains an attractive investment due to its improving fundamentals and strategic execution. Its continued focus on global expansion, content diversification, and direct-to-consumer growth positions the stock as a compelling buy under $10 for investors looking to capitalize on the company’s growth potential.