For readers new to the stock, Warner Bros. Discovery, Inc. (NASDAQ:WBD) went public in April 2022. The company was formed as a merger between Discovery Inc. and AT&T's WarnerMedia as part of its assets spun off. The IPO was priced at $24.08 a share at that time. The stock price then suffered large corrections since the IPO. It lost more than 1/3 of its price in the past 12 months alone, as seen in the chart below. Currently, it trades at about $8 a share.