Warner Bros. Discovery (WBD) stock took a sharp 8.11% nosedive following the release of a 5-minute preview for the upcoming Superman movie, set to premiere on July 11, 2025. The event has sparked widespread criticism from fans and investors alike, further eroding the company’s market value amid ongoing financial struggles.
Negative Reception to the Preview
The 5-minute preview of Superman, directed by James Gunn and starring David Corenswet, was released around April 3, 2025. The clip depicts a wounded Superman being dragged by his loyal dog Krypto to the Fortress of Solitude, where robots use simulated sunlight to heal him. While some praised the creative and optimistic tone Gunn aimed to convey, the majority of viewers expressed disappointment. Many fans on social media felt the scene diminished Superman’s iconic self-reliant and powerful image, particularly when compared to Henry Cavill’s portrayal in Man of Steel. One X user commented, “Superman needs robots and a dog to heal? This isn’t the hero I know.”
The negative fan reaction quickly translated into investor unease. Within 24 hours of the preview’s release, WBD stock dropped from $9.1983 on April 3, 2025, to $8.01 on April 4, 2025—a decline of 12.93%. However, if calculated from the intraday high on April 4 (based on estimated trading data), the 8.11% drop reported by some sources likely reflects a steep intraday plunge during that session.
Warner Bros. Discovery’s Ongoing Financial Struggles
This stock drop is not an isolated incident but part of a broader pattern of financial challenges for WBD. The company, formed through the merger of WarnerMedia and Discovery in April 2022, was expected to become a media powerhouse capable of rivaling giants like Netflix and Disney+. However, since the merger, WBD’s stock has plummeted over 60% from its post-merger high of $27.50, reaching $8.09 as of April 7, 2025.
WBD has faced significant hurdles in recent years. In Q2 2024, the company reported a staggering $10 billion loss, including a $9.1 billion write-down of its linear TV networks. This was largely due to a weakening linear advertising market and the loss of NBA broadcasting rights starting in the 2025 season. Additionally, controversial decisions such as the cancellation of the $90 million Batgirl film and significant layoffs have further eroded confidence among investors and the Hollywood community.
High Stakes for James Gunn’s Superman
The upcoming Superman film was seen as a critical opportunity for WBD to turn the tide and restore faith in the DC Extended Universe (DCEU) following a string of disappointments. Slated for a July 2025 release—a prime slot for blockbuster films—WBD and James Gunn had high hopes that the movie would surpass the global box office of Man of Steel ($668 million, unadjusted for inflation). However, the controversial preview has raised concerns that the film may fail to meet expectations.
Some analysts note that the market landscape has shifted dramatically since Man of Steel debuted in 2013. Competition from streaming platforms has intensified, and the DC brand is still struggling to regain its footing after underperforming releases like The Flash (2023) and Aquaman and the Lost Kingdom (2023). The negative buzz surrounding the Superman preview has only heightened fears that WBD may face another setback.
What Lies Ahead for WBD?
The 8.11% stock drop underscores the fragile position Warner Bros. Discovery finds itself in as it navigates a challenging period. While the company has made efforts to streamline operations—such as reducing debt by $12 billion since the merger and focusing on its Max streaming platform—investor confidence remains shaky. The performance of Superman will be a crucial test for WBD’s ability to revitalize the DC franchise and stabilize its financial standing.
For now, the fallout from the Superman preview serves as a stark reminder of the high stakes involved in rebooting a beloved character. As one industry insider put it, “Superman isn’t just a character—he’s a symbol. If WBD can’t get this right, it’s not just a movie that fails; it’s the future of the DC Universe that’s at risk.” Fans and investors alike will be watching closely as the July 2025 release date approaches.
