Why Discovery Inc. Shares Have Plunged More Than 35% So Far in 2020

TV media company Discovery Inc. (NASDAQ: DISCA)(NASDAQ: DISCB)(NASDAQ: DISCK) has three share classes, and the prices of two of them fell by more than 35% in the first half of 2020, according to data provided by S&P Global Market Intelligence. The company's "A" shares, which provide their owners with one shareholder vote per share, fell by 36.8% in the six-month period that ended June 30, while the "C" shares, which have no voting rights, dropped by 35.6%. Discovery, the king of producing "unscripted" TV shows for its cable channel lineup that includes Discovery Channel, Animal Planet, HGTV, and Food Network, is late to the streaming party, and that's had all kinds of consequences in 2020.