Why Warner Bros. Discovery, Inc. (WBD) Soared On Wednesday

We recently published a list of While Market Bleeds, These 10 Firms Soar. In this article, we are going to take a look at where Warner Bros. Discovery, Inc. (NASDAQ:WBD) stands against other best-performing stocks.

Warner Bros grew by 4.92 percent on Wednesday to close at $10.02 apiece as investor sentiment was buoyed by news that CNN’s chief operating officer, David Leavy, will return to the entertainment media giant.

According to a letter to CNN employees, Leavy, a long time key executive of Warner Bros. Discovery, Inc. (NASDAQ:WBD), is set to leave his current chief operating officer role at CNN.

He was praised for his “brilliant job stabilizing the company (CNN) at a difficult moment.”

“During the transition, he led CNN jointly with Amy Entelis, Virginia Moseley and Eric Sherling and played a central part helping me into my role as chairman and CEO before, as COO, leading multiple organizations and teams across revenue, promotion, operations and data,” CNN Chairman and CEO Mark Thompson said.

For his part, Leavy said that his moving over to CNN was originally just a six-month plan that turned into a multi-year drive to help the company pivot, transform, and reposition itself. His return to Warner Bros. Discovery, Inc. (NASDAQ:WBD) was a vote of confidence in his effectiveness in transforming the news giant.

Overall, WBD ranks 6th on our list of best-performing stocks. While we acknowledge the potential of WBD, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WBD and that has 10,000x upside potential, check out our report about this cheapest AI stock.

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