Shares of Warner Bros. Discovery fell in value a few days after the cancellation of Bat girl.
On Thursday, August 4, 2022, Warner Bros. Discovery held its second quarter earnings call. This specific call has sparked a lot of interest among DC Extended Universe fans, given that two days before the news broke that the release of bat girl has been canceled and will serve as tax depreciation for the company.
The second-quarter earnings call reviewed new DC Comics brand update plans, as well as new intentions to merge HBO Max and Discovery+ into a single streaming service. CEO David Zaslav has confirmed the cancellation of bat girl, while promoting upcoming films such as Black Adam, Shazam! Fury of the gods, and The flash.
However, the company’s shares fell sharply on Friday, August 5, 2022. The company was down 15% after its debut. Wall Street analyst Steven Cahall of Wells Fargo downgraded his rating on the company’s stock, reducing his price target from $42 to $19.
Analysts said that despite the quality assets under Warner Bros. Discovery, it is experiencing post-merger growth pains, and “the risks and capital structure create a greater range of results.”
bat girl was to feature Leslie Grace as Barbara Gordon, along with JK Simmons as Commissioner Gordon, Brendan Fraser as Firefly, and Michael Keaton as Bruce Wayne/Batman. Keaton is still set to reprise his role as his version of the Caped Crusader in the upcoming DCEU movie, The flash.
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Source: THR
