Warner Bros. Discovery (parent company of CNN) dived 5% today following last night's 'performance'.
What a strange name for that company. Decades ago, there used to be a channel on cable TV called the Discovery channel. It had all kinds of interesting shows about science, technology, space, advances in health, different cultures, and stuff like that.
However, after a while, it decayed into garbage like reality shows about wedding planning, psychics, and other super dumb stuff.
Meanwhile, Warner Brothers was one of the great Hollywood studios back in the Golden Age of cinema.
WB eventually became a big conglomerate, and then they were bought by America Online (AOL) in the dawn of the internet era, which would be like Tesla using it's super high stock value as a newcomer to the car industry to purchase GM. Musk could have easily done this. GM's market cap is the same as what he paid for Twitter.
Anyway, AOL immediately became a has-been flop right after forming AOL Time Warner, and gradually disappeared from the company name. Somewhere in there, CNN was a big piece of the company as well, before they fizzled to their current zombie form.
Anyway now the company is named after that old cable TV channel, of all things.
The name of the company is like a microcosm of the history of media companies in the past 100 years, only they got stuck about 20 years ago.
Maybe Twitter will buy them and it will become Warner Bros Twitter.