Against All Odds, Disney Stock Makes Dramatic Gains During Pandemic
The past year has been rough for most companies – especially those in the travel and hospitality industry. However, against all odds, Disney has managed to weather the COVID-19 pandemic storm much better than expected which has lead to soaring stock prices over the past year. Much of the gains are due solely to Disney+.
Today, Jim Cramer on CNBC had this to say about Disney’s dramatic stock price increase during the pandemic: “[People are going to be] staggered at how at what this company is going to do.”
He went on to say that Disney has “taken advantage of a very difficult time for them. I think it’s going to be remarkable.”
With all Disney Parks around the world closed at some point during the last year thanks to the pandemic; including the Disneyland Resort that has never re-opened and both Disneyland Paris and Hong Kong Disneyland that have reopened but closed again; many would have thought stock prices would have gone the other way. But, thanks to Disney embracing the direct to consumer streaming trend with Disney+ before the pandemic began and also restructuring of the company, stock prices have taken off.
But, Disney stock prices increasing during the pandemic is just the beginning. Once al of the Disney Parks reopen and people begin going to movie theaters again, prices are predicted to increase even more.
Here is the full clip of Jim Cramer talking about the success of Disney stock despite the pandemic:
Later today, Disney will host their Q1 FY21 earnings call. While we are expecting big losses due to pandemic closures, don’t be surprised if those stock prices continue to soar during after hours. If it wasn’t for Disney+, it’s hard to imagine what would be going on with the company right now. Make sure to keep it here with MickeyBlog for all of the breaking news we expect to come from today’s earning call!
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Image Credit: AP Photo/Richard Drew, File