Jim Cramer on Warner Bros. Discovery: "To Me, the Stock's Moved into Arbitrage Levels"

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is one of the stocks Jim Cramer had in this week’s game plan. Cramer discussed the possibility of a takeover, as he said:

“Next, what the heck is really going on with this Warner Brothers Discovery? Is the company going to sell itself to the highest bidder? Are the earnings any good? That’s Thursday’s business before the open, and I want to see if there’s going to be an auction. To me, the stock’s moved into arbitrage levels, meaning it’s up a ton in anticipation of a takeover. But I think you could still catch a couple more bucks if they close any sort of deal. Of course, if they don’t, though, like arbitrage, look out below.”

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a media and entertainment company that creates and distributes movies, TV shows, and streaming content. When a caller asked about the stock during the October 22 episode, Cramer responded:

“Okay, I think you gotta hold onto it… I think that the CEO, David Zaslav, is going to get you $24 to $27 a share. It’s at $20. I would not sell this stock yet.”

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Disclosure: None. This article is originally published at Insider Monkey.