Warner Bros. Discovery, Inc. – Series A (WBD) Stock Price, News & Forecast Before the December 1, 2025 Market Open

As U.S. markets prepare to reopen on Monday, December 1, 2025, Warner Bros. Discovery, Inc. – Series A (NASDAQ: WBD) heads into the new week at fresh 52‑week highs, fueled by takeover speculation, strong year‑to‑date performance and a flurry of insider and institutional activity.

Below is a detailed, news‑driven look at WBD’s stock price, latest headlines (Nov. 28–30), and short‑term forecasts that traders and investors may want to understand before the bell.

WBD Stock Price Snapshot Heading Into December 1, 2025

Last regular close (Friday, Nov. 28, 2025): about $24.00, up roughly 0.5% on the day.
Intraday range: WBD traded between roughly $23.66 and $24.20, setting a new 52‑week high at $24.20. ^[1]
After‑hours quote: MarketBeat data shows extended trading around $24.02 on Friday. ^[2]
Market capitalization: approximately $59.5 billion at Friday’s close. ^[3]
52‑week range: roughly $7.5 – $24.2 per share, meaning the stock is trading right at the top of its one‑year range. ^[4]

That move caps a spectacular year: Intellectia AI’s performance dashboard estimates WBD’s share price is up around 125% in 2025, following a small decline in 2024. ^[5] Simply Wall St’s analysis similarly notes a triple‑digit rally (about 124%) while questioning whether the valuation has run ahead of fundamentals. ^[6]

In other words, WBD enters December priced for a lot of good news—which makes Monday’s trade all the more sensitive to any headlines about bids, regulators or streaming performance.

Key News From November 28–30, 2025

1. New 52‑Week High and Momentum Coverage (Nov. 29)

On Saturday, MarketBeat published an in‑depth piece titled “Warner Bros. Discovery (NASDAQ:WBD) Sets New 52‑Week High – Time to Buy?” after WBD hit $24.20 during Friday’s session. ^[7]

Highlights from that analysis:

WBD’s fresh high pushed it above both its 50‑day and 200‑day moving averages, reinforcing the stock’s uptrend. ^[8]
MarketBeat calculates a P/E ratio near 80 and a PEG (price/earnings to growth) ratio of about 2.6, underscoring how richly the stock now trades versus recent earnings. ^[9]
The article reiterates WBD’s consensus “Moderate Buy” rating, with 3 Strong Buy, 13 Buy, 11 Hold and 1 Sell recommendations, and an average 12‑month price target around $21.92. ^[10]

That target implies mid‑single‑digit downside from current levels, suggesting that much of the anticipated upside from a potential takeover or turnaround may already be reflected in the share price.

2. Insider Selling by the CAO and Institutional Flows (Nov. 28–29)

The other big theme of the Nov. 28 session is who was trading WBD behind the scenes.

CAO Lori Locke Sells 5,000 Shares

MarketBeat reported that Chief Accounting Officer Lori Locke sold 5,000 shares of WBD stock on Friday, Nov. 28, at an average price of $23.83, for proceeds of about $119,150. After the sale, she still holds 140,084 shares, worth roughly $3.3 million at current prices. ^[11]

Key context from that piece:

The sale represents about a 3.45% reduction in her stake. ^[12]
MarketBeat tallies around 1.19 million insider shares sold over the last three months, worth about $22.8 million, suggesting executives are locking in gains after the big 2025 rally. ^[13]

Multiple outlets, including Investing.com, GuruFocus and SEC filings aggregated by WhaleWisdom, also flagged Locke’s transactions around this date, reinforcing the impression that insider selling is real but modest relative to total insider and institutional ownership. ^[14]

Mixed Institutional Activity

MarketBeat’s news feed for WBD on Nov. 28–29 shows a stream of 13F filings and fund updates: ^[15]

XTX Topco Ltd disclosed buying 142,068 WBD shares,
Crossingbridge Advisors LLC sold 25,000 shares,
Prudential Financial Inc. reported about $15.6 million in WBD holdings based on a filing dated Nov. 27.

Taken together with earlier filings showing large positions from Vanguard, Geode, Invesco and others, institutional investors own close to 60% of WBD’s float. ^[16]

The net takeaway: insiders are trimming, but institutional interest remains strong, a classic pattern in stocks that have already doubled or more.

3. WBD Outperforms Palantir in 2025 (Nov. 30)

On Sunday, Nov. 30, 24/7 Wall St published “3 Stocks That Outperformed Palantir in 2025. Can They Repeat in 2026?”, naming Warner Bros. Discovery alongside Western Digital and Newmont as 2025 outperformers. ^[17]

The article frames WBD’s story this way:

WBD “flipped its script” in 2025, turning post‑merger problems into a streaming‑led comeback.
HBO Max subscribers climbed to about 128 million, while the studio scored multiple box office hits, driving roughly 23% adjusted revenue growth. ^[18]
Debt has been reduced from around $38 billion to roughly $33.3 billion, thanks to aggressive deleveraging. ^[19]
A planned corporate split (separating studios/streaming from legacy cable networks) is highlighted as a potential value unlock, especially when layered on top of ongoing takeover interest from Paramount Skydance, Comcast and Netflix. ^[20]

24/7 Wall St notes that Wall Street’s average price target sits around $22.5–$22.9, but suggests that strategic bids or asset sales could justify higher prices than current consensus if they meaningfully reduce leverage or unlock hidden asset values. ^[21]

4. Takeover Drama: Sweetened Bids, Politics and a Dec. 1 Deadline

While many of the headline M&A stories hit between Nov. 21–26, they directly shape what happens at Monday’s open:

Second‑round bids due Dec. 1: Reuters reports that WBD has asked suitors to submit improved offers by December 1, following preliminary bids from Paramount Skydance, Comcast and Netflix. ^[22]
Initial offer rejected: Reuters also notes that WBD’s board rejected a mostly‑cash offer “near $24 a share” from Paramount, valuing WBD around $60 billion, and then publicly announced a strategic review. ^[23]
Comcast may raise its bid: The New York Post has reported that Comcast CEO Brian Roberts is considering a higher offer, potentially around $28 per share, despite public opposition from President Trump, who has been openly critical of Comcast. ^[24]
Netflix faces antitrust pushback: The same outlet reports White House officials have raised antitrust concerns over a Netflix‑WBD combination, highlighting worries about streaming dominance if Netflix’s 300M+ subscribers were combined with HBO Max’s 128M. ^[25]

Reuters has separately detailed heavy political and regulatory risks for all three bidders—from potential DOJ antitrust scrutiny to foreign investment reviews and questions over media plurality if CNN were combined with CBS or NBC. ^[26]

For Monday’s trade this matters a lot:

WBD is already trading above Paramount’s reported earlier offer. ^[27]
If no bidder comes meaningfully above today’s price, deal‑premium expectations could deflate.
Conversely, any leaked offer closer to $28–$30 could re‑ignite the rally.

Fundamentals: What the Latest Earnings Say

Q3 2025: Revenue Slip, Streaming Strength, Cable Weakness

On Nov. 6, 2025, WBD reported Q3 2025 results: ^[28]

Revenue: about $9.05 billion, slightly below Wall Street’s consensus around $9.17 billion, and down roughly 6% year over year.
EPS: a loss of $0.06 per share, worse than the expected loss of $0.04.
Streaming (DTC): added roughly 2.3 million subscribers, taking total DTC subs (including Max/HBO) to about 128 million, but the net adds were slightly below some forecasts.
Studios: blockbuster films, including a new Superman installment, drove strong studio revenue, helping make WBD the first studio to surpass $4 billion in global box office in 2025 with just 11 releases, according to company materials. ^[29]
Cable networks: the traditional TV segment continued to see double‑digit revenue declines, reflecting cord‑cutting and lower advertising demand. ^[30]

Management emphasized that free cash flow is improving and that deleveraging remains a top priority, aligning with independent coverage noting that net debt has been trimmed by several billion dollars during 2025. ^[31]

Net‑net, Q3 showed:

Financial progress but not perfection,
Ongoing pressure from legacy cable,
And a business still in transition as it pivots to streaming and negotiates from a position of — potentially — being acquired.

How Analysts and Valuation Models See WBD Right Now

Street Price Targets vs. Current Price

Several data providers updated their WBD outlooks in November:

MarketBeat’s forecast page aggregates 28 analyst 12‑month targets, with an average of $21.92, a high of $30 and a low of $10. That implies about 8–9% downside from Friday’s $23.99 close. ^[32]
A Fintel/Nasdaq‑tracked model recently noted that the average price target was lifted by about 16% to $23.02, reflecting upgrades following the takeover buzz. ^[33]
Other aggregators (such as TickerNerd and Stocksguide) show average targets in the mid‑$20s, with bull cases around $28–$30 and bear cases near $10–$13. ^[34]

So while headline analyst recommendations lean “Moderate Buy”, most fundamental models do not assume a high‑priced takeover is guaranteed. Rather, they cluster around or slightly below current prices.

DCF & Fundamental Models: Is WBD Overvalued?

Simply Wall St’s discounted cash flow (DCF) model pegs WBD’s intrinsic value around $19.74 per share, implying the stock is about 21% overvalued after its 124% rally. ^[35]
A Trefis breakdown notes that WBD is up almost 30% in the last 21 trading days alone, driven largely by deal speculation, and questions how secure those gains are if M&A hopes fade or regulators balk. ^[36]
A Nasdaq “Guru Fundamental Report” assigns WBD an 88% score within its growth‑oriented strategy, indicating the stock screens well on fundamentals and valuation for that particular methodology. ^[37]

Put together, these models suggest:

On a stand‑alone, no‑deal basis, WBD may be somewhat ahead of fair value after the recent surge.
With a credible bidding war and/or breakup that lowers debt and unlocks studio and HBO assets, today’s price could be a midpoint rather than a peak.

Short‑Term WBD Stock Forecasts for Early December 2025

A number of algorithmic and technical‑analysis platforms updated their short‑term WBD forecasts just as markets closed for the weekend.

1. Intellectia AI: Short‑Term Bullish, Long‑Term Cautious

Intellectia’s WBD Stock Price Prediction page (updated around the Nov. 28 close) gives: ^[38]

1‑Day prediction: about –0.57%, pointing to a minor pullback from $24.00.
1‑Week prediction:–1.49%, essentially sideways to slightly lower.
1‑Month prediction:+4.84%, targeting roughly $25.

The site labels WBD a “Strong Buy candidate” based on:

4 bullish and 2 bearish technical signals,
A bullish moving‑average structure (price above short‑term averages, and SMA20 above SMA60 and SMA200),
Momentum and MACD indicators that remain positive. ^[39]

However, Intellectia also flags overbought conditions via Commodity Channel Index and Williams %R and notes an elevated short‑sale ratio around 18.6% as of Nov. 25, hinting that some traders are betting against the rally. ^[40]

2. StockInvest.us: From “Strong Buy” to “Buy”

StockInvest.us updated its view on Nov. 28, stating that WBD was “downgraded from Strong Buy candidate to Buy candidate” after Friday’s session. ^[41]

Key points:

The site still classifies WBD as a “Buy or Hold candidate” based on its trend since early September, during which the stock has gained over 90%.
The downgrade reflects rising risk due to the steep recent price appreciation and changing volume patterns, not a fundamental reversal. ^[42]

3. CoinCodex & Hexn.io: Gradual Drift Around $24–25

CoinCodex’s short‑term model forecasts WBD trading around $24.00 on Dec. 1, with values in the $23.8–$25 range over subsequent days, suggesting modest upside and continued volatility rather than a sharp break in either direction. ^[43]
Hexn.io’s price‑prediction table projects WBD hovering around $23.9–$24.2 from Nov. 28 through mid‑December, with returns of roughly 0.2–1.5% over the next two weeks—again pointing to incremental gains rather than a blow‑off top. ^[44]

4. Intellectia’s Longer‑Term (2026–2030) Outlook

Interestingly, the same Intellectia model that is bullish in the next month is much more pessimistic beyond 2025:

It projects a 2026 average price near $9.70, and a 2030 forecast around $7.92, implying a sharp long‑term drawdown from current levels, even if short‑term technicals remain favorable. ^[45]

That stark contrast reflects the model’s assumption that current prices are not sustainable without extraordinary fundamental improvement.

Bullish vs. Bearish Cases Before the December 1 Open

Bullish Arguments

Bidding war potential: Multiple strategic buyers—Paramount Skydance, Comcast, Netflix—are circling, and at least one earlier bid near $24 was reportedly rejected. A sweetened offer in the high‑20s could lift shares further. ^[46]
Streaming and studio momentum: HBO Max’s 128M subs, strong 2025 box office and a robust pipeline give WBD tangible growth assets, not just “old media” baggage. ^[47]
Deleveraging progress: The company has cut billions from its debt load and continues to focus on free‑cash‑flow generation. ^[48]
Technical strength: WBD sits above key moving averages, near 52‑week highs, with several AI and technical models classifying it as a Buy or Strong Buy candidate for the near term. ^[49]

Bearish Arguments

Valuation stretch: DCF models and some fundamental views suggest WBD is 20%+ above fair value on a stand‑alone basis, after a 124%+ rally this year. ^[50]
Deal risk: Any sign that bids come in below expectations or that regulators/White House opposition mount could unwind part of the “takeover premium.” ^[51]
Structural headwinds: Cable networks continue to shrink, streaming growth is increasingly competitive, and 2025’s studio slate may be hard to repeat. ^[52]
Insider selling & short interest: Insiders have sold over $22 million in stock in recent months, and short‑selling metrics show elevated bearish positioning, suggesting some sophisticated players doubt the sustainability of the rally. ^[53]

What to Watch at Monday’s Open (Dec. 1, 2025)

Going into the Dec. 1 pre‑market and opening bell, here are the catalysts most likely to move WBD’s Series A shares:

Any leak on updated bids
- Headlines about price per share, structure (all‑cash vs. mix of stock and cash), and whether bids cover all of WBD or just certain assets. ^[54]
Regulatory and political commentary
- New comments from the White House, DOJ or key senators about Netflix, Comcast or Paramount’s bids could quickly reshape probabilities for each suitor. ^[55]
Fresh analyst notes or rating changes
- With WBD already trading above many targets, any target hikes to the high‑20s or downgrades on valuation concerns could sway sentiment. ^[56]
Short‑term trading flows
- Options activity has been intense around WBD in recent weeks, and a stock sitting at a 52‑week high with high short interest is prime territory for sharp squeezes or abrupt reversals, depending on news. ^[57]

Bottom Line: WBD Before December 1, 2025

Warner Bros. Discovery’s Series A stock goes into Monday’s session as a high‑beta, event‑driven story:

Price action and technicals are bullish in the very near term,
Fundamentals are improving but still mixed,
And the takeover narrative—with a Dec. 1 bid deadline—is the dominant driver of sentiment.

For traders, that means volatility risk is high around the open and through any news on bids or regulatory reactions. For longer‑term investors, the key questions are:

How much of a potential buyout is already priced in at ~$24?
And what is WBD worth if no deal ultimately materializes?

As always, forecasts from models and analysts are probabilistic, not guarantees. Anyone considering WBD should weigh these latest developments against their time horizon, risk tolerance and broader portfolio, and consider seeking professional financial advice before making investment decisions.

References