Warner Bros Discovery stock holds a spot on Schaeffer's Senior Quantitative Analyst Rocky White list of the 25 best SPX stocks to own next month. Per White's data, WBD averaged a 10.8% return in January -- the best average return on the list -- and finished the month higher in seven of the last 10 years.

Warner Bros. Discovery stock has surged 30% recently, but it's imperative to consider risks in streaming, theatrical releases, and legacy networks. Read more here.

Warner Bros. Discovery Inc. (NASDAQ: WBD) is a major entertainment and media company that owns high-profile entertainment brands and IPs. The consumer discretionary sector Goliath was formed through a merger of the AT&T Inc.

David Zaslav, CEO of Warner Bros. Discovery ( WBD, Financials ), recently sold $30 million worth of company stock, according to a filing with the U.S. Securities and Exchange Commission. The action coincides with a major reorganization of the business meant to solve problems in the changing media scene.

More change is afoot for the board of directors of Warner Bros. Discovery, with Li Haslett Chen disclosing plans to resign her board seat on January 31.