[TAG0][TAG1]
- Warner Bros. Warner Bros.
- Due to the huge success of "Hogwarts Legacy", the media giant has seen its stock surge 64% this year.
- The Harry Potter-themed video game has been a huge success, bringing in $850,000,000 in its first two weeks of launch.
Warner Bros. Discovery's stock has seen a strong comeback in this year, surpassing its S&P 500 peers.
After falling for three years, the media giant's share prices have risen 64% in 2023. This makes it the top-performing S&P 500 constituent. It beat popular stocks like Amazon, Meta, and Tesla, which have increased by 60%, 38%, and 11% respectively since January.
The huge success of "Hogwarts Legacy", a Harry Potter-inspired videogame, appears to have fueled the strong rebound. Last Thursday, the company announced that "Hogwarts Legacy", which has sold 12 million units, had already generated $850 million in sales in its first two weeks of launch.
It was a bestseller in presales and beat other games like "Call of Duty: Modern Warfare II" or "Destiny 2". Despite backlash from those who were offended by J.K. Rowling’s allegedly transphobic remarks, the game was still a popular choice.
David Zaslav, CEO of the company, stated that his company's success in video games is now a "core component of our overall strategy."
"Hogwarts Legacy" – an action role-playing gaming game that takes place in the Harry Potter universe in 1800s (a century before the events of The Potter books) – the player will be a student at Hogwarts during this time.
Warner Bros stock was at $15.55 per shares as of Friday close. The stock fell after Warner Bros reported fourth-quarter revenue figures that were below analysts' expectations.
The entertainment company continues to move forward with new projects. After striking a deal to produce new "Lord of the Rings” films, the entertainment company announced that it will be working with Embracer Group in Sweden. Embracer Group currently holds the film rights to J.R.R. Tolkien's books.
—————————————————————————————————————————————
By: ztayeb@businessinsider.com (Zahra Tayeb)
Title: Warner Bros stock beats Tesla and other S&P 500 peers in a fierce comeback as Hogwarts Legacy’s massive success rekindles Harry Potter mania
Sourced From: markets.businessinsider.com/news/stocks/warner-bros-stock-beats-sp500-tesla-hogwarts-legacy-harry-potter-2023-2
Published Date: Mon, 27 Feb 2023 11:20:03 +0000
Related posts:
Wedbush’s Dan Ives claims that Tesla stock could climb 35% after recent price cuts in China.
Tesla short-sellers have lost $7Billion in 2023 due to Tesla’s stock rising 86%
Tesla bull Gary Black, who rebuts recession claims, says investors don’t pay attention to Elon Musk on economics.
Nobel laureate Paul Krugman compared Tesla to bitcoin, and said he wouldn’t trust Elon Muss to feed his cat.
Leave a Reply