Disney Stock: Who Wants To Be A Millionaire?
A dog for much of this year, Disney Stock has turned back into bedrock for some investors…
On Friday, November 6, Disney stock closed at 127.46.
Today, after good news about a COVID-19 vaccine, The Walt Disney Company is trading well over 140.
MickeyBlog.com posted all about that rebound this morning:
But now, folks are again looking at Disney stock as an enormous opportunity.
Over the last ten years, the stock has grown at a compounded annual rate of 13%. That was good enough to turn those who invested $295,000 in the stock into millionaires. However, things may be different in the next ten years and most of us don’t have $295,000 to invest. Still, the company has a lot going for it.
The fact that people are staying home more has created a surge in demand for in-home entertainment, helping the company’s Disney+ streaming service take off with flying colors.
Tatevosian isn’t the only analyst to outline the sharp climb:
— Meg Graham (@megancgraham) November 9, 2020
Disney’s shares jumped nearly 10% to $139.93 an hour into trading. The company has struggled since March, as the pandemic has kept Disneyland shuttered and big-budget movies from releasing. Disney is now within striking distance of where its share price was at the beginning of the year, hovering around $148.
A History Of Success
But Tatevosian reminded his readers that Disney being a solid bet is no secret.
Admittedly, in the near-term, Disney is in the middle of a challenging scenario. However… The pandemic has not changed the fact that the company makes content people love — as evidenced by the box-office results. Or the fact that families derive great value from the theme parks — as evidenced by the crowds of visitors.
Amen. Here’s to continued good news on that vaccine. I don’t need to be a millionaire. But I’d like to leave my house sometime soon.