Warner Bros. (WBD) Jumps 16.3%, Hits New High on More Acquisition Bids

We recently published 10 of Wall Street’s Outperformers. Warner Bros. Discovery Inc. (NASDAQ:WBD) is one of the top-performing stocks last week.

Warner Bros. grew its share prices by 16.3 percent week-on-week to hit a new all-time high as investors snapped up shares following news that it was open to other acquisition offers after thumbing down Paramount Skydance’s $60 billion bid.

On Friday alone, the stock rose to a record high of $21.57, but failed to sustain momentum after ending the day down by 0.47 percent at $21.15 apiece.

Warner Bros. (WBD) Jumps 16.3%, Hits New High on More Acquisition Bids

Earlier in the week, CNBC said that Warner Bros. Discovery Inc. (NASDAQ:WBD) rejected three acquisition offers from Paramount Skydance at prices from $22 to $24 per share, but noted that a sale remains under the table, and that it would expand its review of other offers.

“It’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market,” Warner Bros. Discovery Inc. (NASDAQ:WBD) CEO David Zaslav said.

“After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets,” he added.

Listed firms Netflix Inc. and Comcast Corp. were said to be among the other bidders. On Friday, both firms dropped by 1.7 percent and 0.068 percent, respectively.

While we acknowledge the risk and potential of WBD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WBD and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.