Warner Music’s stock heads for worst drop on record. Can Ed Sheeran help turn things around?

Shares of Warner Music Group Corp. were headed for their worst day on record Tuesday, after the recording and publishing company reported that earnings dove in the most recent quarter.

Warner Music’s WMG stock sank as much as 12.2% Tuesday and was trading 11% lower with just an hour to go in the regular trading session. Shares have never declined more than 8.8% in a single session since Warner Music returned to the public markets in 2020.

Before…