Warner Bros. Discovery Shares Fall Amid Los Angeles Mask Mandate

Warner Bros. Discovery Inc WBD shares are trading lower by 3.88% to $13.63 during Thursday's session. The NY Post reported the studio was hit with a COVID outbreak as Los Angeles faces mask mandates.

What Happened?

Per the NY Post report, "The studio reported 43 cases as of Tuesday to the LA County Department of Public Health, according to reports. It is likely those numbers have climbed since then."

A rep for the studio declined to comment to the New York Post.

Why it Matters

A COVID-19 resurgence stands to harm an already volatile economic environment. Worse-than-expected June CPI data has also caused recession concerns and concerns of more aggressive Fed policy, which could impact consumer spending. The Consumer Price Index rose 9.1% for the month of June, above estimates of 8.8%.

According to data from Benzinga Pro, Warner Bros Discovery has a 52-week high of $31.55 and a 52-week low of $12.76.