What's Going On With Warner Bros Discovery Stock?

Warner Bros. Discovery, Inc. (NASDAQ: WBD) shares are trading lower Thursday amid reports of a potential merger with Paramount Global (NASDAQ: PARA).

What To Know:

Axios reported that Warner Bros. Discovery CEO David Zaslav met with Paramount Global CEO Bob Bakish on Tuesday to discuss a possible merger of the companies. The meeting, which reportedly lasted several hours, took place at Paramount's headquarters in Times Square and talks are reportedly still in the beginning stages.

Shares of Warner Bros. Discovery are down on above-average trading volume following the news. More than 15.6 million shares have already been traded in the session, compared to the stock's 100-average volume of 22.086 million shares.

Warner Bros. Discovery's stock has attracted attention from short-sellers with 13.51% of available shares being sold short, according to data from Benzinga Pro.

According to data from Benzinga Pro, shares of Warner Bros. Discovery are trading above the stock's 50-day moving average of $10.77 and below its 52-week high of $16.33.

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WBD Price Action: According to Benzinga Pro, Warner Bros. Discovery shares are down by 4% at $11.20 at the time of publication.

Image: spangle84 from Pixabay