Disney Stock Closes on a All-Time High
One guesses that — for a moment — this is the script Disney executives probably ordered up in their fantasies if they dared dream about a post-pandemic boom.
Today, The Walt Disney Company hit an all-time high of $203.02 before settling into a 201.91 close.
For CNBC.com, Lauren Feiner reported:
Shares of Disney rose 6.3% Monday after California provided new guidance allowing amusement parks to reopen in the state on April 1… The rally added more than $21 billion to Disney’s market cap, bringing it to $366.5 billion.
Now, this is also one of the first articles in a while, that spoke to the possibility of a box office bounce back for The Mouse, as well.
In addition to the theme park news, Disney could also stand to gain in its movie business. More theaters in North America have been opening up, with 45% of theatres in the region open over the past weekend, compared with 42% the weekend prior, according to Comscore.
Meanwhile, investors.com reminded:
Meanwhile, Disney’s release of the animated movie “Raya and the Last Dragon” led the box office this weekend, taking in $8.6 million. It premiered at 2,045 theaters, including in New York City where theaters reopened to 25% capacity. But it did not make as big a splash as expected. It was well below Warner Bros.’ “Tom & Jerry” $14.1 million opening.
So, what’s it all mean?
Joe Tenesbruso put it in perspective for readers of The Motley Fool:
Several promising coronavirus vaccines are helping to reduce the spread of COVID-19 in the U.S. and other areas of the world. Health officials, in turn, are starting to ease social distancing mandates. This is all great news for companies like Disney, which stand to benefit as the pandemic subsides. Savvy investors know this, and they bid up the entertainment titan’s shares to new highs on Monday.
But me and my illustrious 11.5 shares wonder just how much more can anyone expect from Disney stock?
What will Tuesday bring? Another all-time high? Well, 9:30 AM is coming quick.