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?
Jeremy Bowman of The Motley Fool thought there were several factors:
- 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:
All Your Questions Answered About What’s Open at Disney Springs and Enhanced Health Protocols
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.
After trading closed for the day, Nasdaq.com posted:
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.
Yeesh.
And yeah, we’ve got a post about that, too.
BREAKING NEWS: Kevin Mayer Leaves Disney To Become CEO of Tik-Tok
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?
