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However, the stock has lost 62.9% since hitting its $78.14 all-time high on March 19, 2021. and has retreated 7.5% over the past month to close Friday’s trading session at $28.18.
The stock has plunged in-part due to its forced liquidation of Archegos Capital positions. DISCA also faces intense competition from other players in the growing global streaming market, such as Netflix, Inc. (NASDAQ:NFLX), The Walt Disney Company’s (NYSE:DIS) Disney +, and DISH Network Corporation (NASDAQ:DISH). Furthermore, with Amazon.com, Inc. (NASDAQ:AMZN) reaching a deal in May 2021 to acquire movie and TV company MGM, the streaming space is expected to become even more competitive. So, DISCA’s near-term prospects look uncertain.
