(CNBC) It’s not GameStop, but Discovery can thank the Reddit effect for an enormous surge in its stock price this year. Since launching Discovery+ on Jan. 4, Discovery shares are up a whopping 116%, closing Monday up another 4.7% at $67.25 — an all-time high. The market capitalization of the media company, which owns cable networks such as HGTV, Discovery Channel, Food Network and TLC, is now more than $28 billion.
Move over GameStop: Discovery, AMC Networks are latest heavily shorted stocks to see huge 2021 gains
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