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Wall Street has its eyes on Warner Bros (NASDAQ: WBD) as the stock becomes one of the most actively traded equities on the market, driven by a surge in volume and price. Despite a turbulent year in which WBD shares have fallen over 27%, recent developments have sparked renewed interest among investors. According to the latest market data, WBD ended the September 13 trading session valued at $8.43, a gain of over 10% for the day, with a market cap of $20.81 billion. WBD YTD stock price chart. Source: Finbold WBD’s current valuation is supported by a trading volume of over 57.7 million shares, higher than its three-month average of 32.33 million.  Despite its smaller market capitalization, Warner Bros’s trading volume metrics have earned it a spot on the ‘most active’ stocks list alongside market leaders such as Nvidia (NASDAQ: NVDA), Tesla (NASDAQ: TSLA), and Palantir Technologies (NASDAQ: PLTR), as per TipRanks. Most active stocks list. Source: TipRanks This feat has seemingly captured market attention, and the immediate question is why the stock is gaining on several fronts. Why is WBD soaring? In this regard, there remains a possibility that WBD capitalized on the second week of September’s market recovery, which saw most equities shake off the selloff recorded in the first seven days of the month. Besides building on this momentum, the entertainment entity was boosted after a distribution deal with Charter Communications (NASDAQ: CHTR).  Under the deal, Warner Bros Max streaming service, among other products, will be hosted on Charter’s Spectrum cable TV platform. The collaboration stipulates that Max’s ad-lite service, which includes Max, HBO, and Discovery+ content, will be part of the Spectrum Select TV packages at no extra charge. With WBD moving on the news, it’s a welcome development, considering the stock faced significant volatility in…

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Filed under: News - @ September 16, 2024 12:23 pm