Discovery Communications (DISCK) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 2,704,567 to 2,355,024 shares, with 1 days to go before the expiry. The short open interest has decreased by -12.9%, amounting to a reduction of -349,543 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 1% of the float of the company. The average daily volume of the stock is 2,097,315 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Discovery Communications (NASDAQ:DISCK): The stock opened at $25.60 on Wednesday but the bulls could not build on the opening and the stock topped out at $25.73 for the day. The stock traded down to $25.30 during the day, due to lack of any buying support eventually closed down at $25.34 with a loss of -0.98% for the day. The stock had closed at $25.59 on the previous day. The total traded volume was 1,101,776 shares.
Discovery Communications, Inc. (Discovery) is a media company. The Company provides content across multiple distribution platforms, including pay-TV, free-to-air and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Discovery operates in three segments: U.S. Networks, consisting of domestic television networks and Websites; International Networks, consisting of international television networks and Websites, and Education and Other. The Companys U.S. Networks segment consists of national television networks. The U.S. Networks segment owns and operates 10 national television networks. The Companys International Networks segment consists of national and pan-regional television networks. The Companys Education and Other segment consists of curriculum-based product and service offerings, and production studios. The Companys subsidiaries include Discovery Holding Company (DHC) and Discovery Communications Holding, LLC (DCH).