Warner Bros Discovery Stock Nears 52-Week High Amid Paramount Settlement Talks with California AG

Warner Bros Discovery Inc. (NASDAQ:WBD) shares are trading higher Monday following reports suggesting Paramount Skydance Corporation (NASDAQ:PSKY) is in advanced settlement talks with California’s attorney general to move forward with the Warner Bros merger. Warner Bros shares are climbing with conviction. What’s fueling WBD momentum? Paramount and California Near a Settlement According to the New York Post, Paramount Skydance is in advanced settlement talks with California Attorney General Rob Bonta over the company’s proposed $8 billion-plus takeover of Warner Bros Discovery. Sources told the outlet that Paramount is discussing potential concessions Bonta could accept in exchange for dropping opposition to the deal, and that the sides are said to be “getting close” to reaching an agreement. Bonta had previously voiced concern that the merger could jeopardize thousands of entertainment jobs based in California. A Strong Run Faces Its Next Test at $30 At $29.79, Warner Bros is trading right at its 52-week high, with the $30.00 level marking that ceiling after the stock’s strong 12-month run of 41.76%. Shares are also trading 5.2% above the 20-day SMA ($28.35) and 8.4% above the 200-day SMA ($27.50), keeping the longer-term trend constructive even after prior volatility. Momentum is best framed through RSI, which sits at 46.35—neutral and not "stretched," suggesting the move is more about trend positioning than an overbought squeeze. In the background, the chart still carries some mixed history: the 20-day SMA is above the 50-day SMA (bullish), but the death cross from August (50-day below 200-day) is a reminder that longer-term trend confirmation has been uneven. The key technical question from here is whether price can hold above the cluster of longer-term averages on any pullback, because that’s what tends to keep breakouts from turning into quick reversals. Traders will also note that the 200-day EMA ($25.72) sits well below current levels, highlighting how much upside has already been reclaimed since the prior lows. Read Also: Stock Market Today: S&P 500, Nasdaq 100 Futures Gain as Trump Issues Fresh Warning to Iran — MRVL, AAPL, ACN in Focus Warner Bros Shares Rush Higher WBD Price Action: At the time of publication, Warner Bros shares are trading 7.23% higher at $29.81, according to data from Benzinga Pro. Image via Shutterstock