According to @CNBC, Warner Bros. Discovery (WBD) shareholders are weighing a takeover offer from Paramount Global (PARA), creating headline-driven event risk that can increase gap volatility and intraday swings in WBD and PARA until definitive terms are published. Source: CNBC. The CNBC post does not disclose offer price, consideration mix, or regulatory path in the tweet, so traders should wait for company announcements or filings before sizing positions and use options implied volatility and spreads to gauge risk. Source: CNBC. Cross-asset sentiment can react to large-cap media M&A headlines; crypto desks may monitor BTC and ETH during U.S. cash hours for correlation moves following this CNBC-flagged catalyst. Source: CNBC.

According to @StockMarketNerd, a stock involved in a bidding war sold off on headlines suggesting the buyer would be allowed to acquire it and rallied on opposing headlines, indicating an inverse reaction pattern. Source: @StockMarketNerd on X, Dec 8, 2025. This highlights acute headline risk and path dependency during M&A processes, implying elevated whipsaw risk for merger-arbitrage and event-driven strategies near deal updates. Source: @StockMarketNerd on X, Dec 8, 2025. No ticker or crypto linkage is specified in the post, so no direct read-through to digital asset markets is established. Source: @StockMarketNerd on X, Dec 8, 2025.