Renewed Optimism Pops (And Props) Disney Stock
Thanks to Optimism, Disney Stock is at pre-pandemic levels…
In a previous article, I asked — referencing a Bastille song — how am I gonna be an optimist about this?
Here is a quick update:
- [T]here’s Disney (DIS). The stock is now above where it was when the pandemic began, even as the parks are running at a fraction of what they can run at, and Disneyland is closed… And it doesn’t matter, because the company came up with Disney +, and, even though it loses a fortune, it’s right on the company’s time table…
- I often think who are those guys? Who is willing to look through the valley to the good numbers? How is it possible that they don’t care about the near-term or that they think that everything will go well? How can they be so darned optimistic? I have to believe that this is the work of youth…
- In the end, I think that the real issue is faith, these buyers have faith in the future, something that seems out of place with so many who feel despair.
And then you look around and those words are borne out.
Earlier tonight, our friends over at TheDisInsider posted (and proved Jim Cramer’s point, above)
More Promising Vaccine News Sends Disney’s Stock Soaring, Again https://t.co/W4NGQqshfl
— The DisInsider (@TheDisInsider) November 17, 2020
- This is the second Monday in a row that we have woken up to positive news… This week it was from the pharmaceutical company Moderna who announced that early data shows their vaccine to be 93% effective.
- This followed last Monday’s news from Pfizer that their vaccine had a 90% efficacy rate. For context, the US Government set the efficacy rate threshold at 50% to qualify for an Emergency Use Authorization.
- Just like last week, today’s news boosted the stock price of many companies, including Disney. Disney’s stock jumped and ended the day at $144.67 a share, a $6.31 per share increase.
Hey, we’ll take it. And look forward to happier days ahead (knock on wood).