Warner Bros. Discovery Stock Falls After Analyst Downgrade on Lower M&A Likelihood, Slower Max Growth, Ad Declines

Warner Bros. Discovery probably won’t see a transformative M&A deal this year — and given negative trends in its TV and streaming businesses, Wells Fargo analysts issued a downgrade on the media conglomerate’s stock. Wells Fargo on Monday downgraded its rating on WBD stock from Equal Weight from…

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