Disney Stock Up Over 7% On Monday
Hey, my five shares of Disney stock had a great day. And while it’s nowhere near the 52-week high of 153.41, it’s a lot higher than the 52-week low of 79.07.
Yep, 116.85 is good. It’s a nice hop up from 109.01 and shows POTENTIAL.
But why? What happened to give the stock a boost?
Disney Stocks Up: Listen to The Fool?
- On Saturday, May 16, Disney Parks Blog posted that Disney Springs would reopen third-party businesses (with caveats) on Wednesday, May 20.
- Then, the following week, Disney would reopen its own businesses in the shopping district.
- And, finally, news that a vaccine passed its first test phase and might make its debut by the end of 2020 made folks excited.
However, as I said, there are caveats to all of the above, with plenty of social distancing, face coverings, and federal guidelines floating around.
The Return of Discretionary Spending?
And Bowan added:
Progress in discovering a vaccine is obviously good news for Disney. Its businesses are focused on discretionary spending, including theme parks, live sports, and movie and television production… so the sooner a vaccine or treatment is discovered, the easier it will be for the company to bring those businesses back to full capacity.
And earlier today, MickeyBlog.com posted:
How Will Disney Stock Do Tuesday?
But tomorrow is another day. And there’s a decent chance there will be more movement Disney shuffled its executive deck.
Disney‘s (NYSE: DIS) goal of dominating the streaming video market just got more complicated. The leader of its direct-to-consumer division, Kevin Mayer, resigned on Monday and is taking over as the CEO of TikTok. Mayer helped launch the successful Disney+ service and had also been responsible for the entertainment giant’s international media portfolio. His most recent stint with Disney goes back to 2005.
And yeah, we’ve got a post about that, too.
Here’s hoping my baby cache of stocks keep growing and things continue to look good for The Mouse.
I’ll be checking the ticker on Tuesday. How about you?