What Does Disneyland’s Opening Mean (stock-wise)?
Light at the end of the tunnel…
This is not new news. Disneyland can open on April 1.
Will it open that day? [Shrug emoji]
Getting Back to Work
Of last Friday’s announcement regarding Disneyland’s Opening, Cheri Mossburg posted:
Ken Potrock, president of Disneyland Resort, told CNN that “we are encouraged that theme parks now have a path toward reopening this spring, getting thousands of people back to work and greatly helping neighboring businesses and our entire community.”
CNN also added:
Profits for the company have taken a huge hit as the company reported $29 million in the first fiscal quarter of 2021, down 99% from $2.1 billion last year. With its theme parks and other in-person businesses either limited in capacity or entirely closed, Disney has relied on ventures such as the Disney+ streaming service to keep things going.
Good For Business
This is what I think was on the mind of Rick Munariz when he wrote on Friday:
It won’t be business as usual. Attendance will be limited to between 15% and 35% of each park’s capacity, depending on the location’s tier of risk status. Orange County — where Disneyland and Cedar Fair‘s Knott’s Berry Farm are located — is expected to reach the most restrictive of the acceptable tiers by next week. Opening at 15% of a park’s capacity won’t be ideal, but it’s 15% better than where the state’s amusement-park industry is right now.
However, one other interesting note I see from Rick is:
Disneyland’s decision to refund annual passes two months ago makes a lot of sense now. With capacity limited to what will likely be just 15% of the resort, the House of Mouse would rather sell admissions to folks paying north of $100 than annual pass holders paying just a couple of bucks a day for access.
Scrooge McDuck would be proud, indeed.
A Touch of Disney
Meanwhile and also on the financial front, Rick also noted on March 4 that “A Touch of Disney kicks off on March 18. Visitors paying $75 on select dates will be able to eat, drink, and shop at the theme park. None of the rides and most indoor attractions outside of some stores will remain closed.”
MickeyBlog.com and MagicalNewsLIVE will be there and plan to give us a look at all the sights and sounds from the Disneyland Resort.
That read, I am very interested to see what happens this week with Disney Stock. Last week, there were some real valleys in the wake of the previous week’s all-time stock price high of $200.60:
One wonders if the good news out of California will bolster Disney’s bottom line going into the spring.