by Martin Armstrong, Armstrong Economics:
QUESTION: Mr. Armstrong, Socrates has been so bearish on CNN’s owner, Warner Brothers, and the dabate is so rigged that other networks are even up in arms over CNN’s rules. We sold down all our institutional holdings in Warner Brothers, thanks to Socrates. Do you think this stock will collapse due to this debate that looks as corrupt as the New York courts?
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Anonymous
ANSWER: The problem with Warner Brothers is it appears to be not just fully on board with the WOKE agenda that is reflected in its price decline, but its CEO and president, David Zaslav, may be part of this coincidence with those in the White House who are also Jewish with heritage back to Ukraine who claim their families were persecuted by the Russians for being Jewish at the start of the Russian Revolution in 1905. Even Wikipedia states: “His family was part of the diaspora from Poland and Ukraine.”
This raises some questions about whether Zaslav has been using Warner Brothers for personal biases against Russia and, thus, Trump. CNN’s anchor hosting this debate compared Trump to Hitler. If anyone did that to Biden, it would be in the headlines everywhere. We cannot say what Zaslav’s motivations have been one way or the other. However, his management of Warner Brothers does not appear to be in the best interest of shareholders. A CEO should be impartial, like a judge. Personal views do not belong in the boardroom or on the Nightly News. That is what OpEds are for – not anchors.
The major support lies at $5.10, and an annual closing below that for 2024 will be devastating. It is interesting that we have a Panic Cycle this month, living up with the CNN debate, but then again in January. Institutional investors have been dumping Warner Brothers big time. The CNN rules and restrictions they put on other networks are trying to create a monopoly on the debate, and rejecting any criticism of CNN staff is more like Pravda of Communist Russia days. It will be a hit job to interfere in the 2024 elections because Warner Brothers is so far left their stock is collapsing amid a great bull market. Why ANYONE would own anything of this company is just amazing. I guess they just hate Trump and see this as paying for his destruction rather than an investment.
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