Investors wary of chasing the latest hype in artificial intelligence stocks may look for bargains in the entertainment and media business.
Warner Bros Discovery (WBD) lost 9.94% last Friday, closing at $8.61. For 2023, the firm concentrated on restructuring its business to set up growth, achieving synergies to cut costs and pay down debt, and turning its streaming business into a profitable business.
WBD shares are lower because the company did not offer free cash flow EBITDA guidance. Last year, it included a $1 billion benefit. This year, that will reverse.
In the technology sector, Adobe (ADBE) lost 6.3% last week on no news. Twilio’s (TWLO) drop weak before likely spooked investors seeking growth in cloud-based software businesses.
Cybersecurity firm Palo Alto Networks (PANW) lost one-quarter of its value. Investors may gain broad exposure in this sector through HACK, BUG, or CIBR exchange-traded funds. Still, investors may buy PANW stock in one-quarter positions. If the stock falls below $260, the investor could add to the position.
In e-commerce, MercadoLibre (MELI) pulled back from the $1,800 peak to close at $1,629.32. The company posted a flat Y/Y quarterly profit after taking a one-off expense related to tax liabilities. The full charge is significant at around $350 million. It recorded only 6% of that charge in the latest quarterly report.
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