Disney Shares Hit Their Lowest Mark in 52 Weeks
Today, Monday, May 9, 2022, proved to be a troubling day for the Walt Disney Company. Disney shares hit their lowest mark in 52 weeks, which causes some to wonder about the reason.
New Low for Disney
The Walt Disney Company (DIS) fell more than 17% over the past month, resulting in a new low this morning. Of course, investors speculated on the root causes.
Disney shares trended lower since Netflix, Inc. (NFLX) reported a decline in subscribers. Apparently, this is the first time Netflix has reported a loss in subscribers in over 10 years.
Now, investors suspect that Disney may have decreased subscriber numbers for its streaming service. Of course, Disney will either confirm or disprove this hypothesis after its fiscal second-quarter announcement.
More Info Coming Soon
So, we all await Disney’s quarterly numbers for new subscribers. The company announces its second-quarter financial results after market closure on Wednesday, May 11, 2022.
Jim Cramer, host of CNBC’s “Mad Money,” bought Disney shares throughout the decline as they approached their lowest mark. In fact, he continues to purchase them, and he did this morning for his Charitable Trust.
Jim Cramer said, “We forgot they make movies and people go to them.” And, he’s correct. After all, Doctor Strange 2 was this weekend’s box office hit, and it made $185 million in its weekend debut.
Not Suggested to Buy
More so than anything else, Bank of America (BofA) removed the Walt Disney Company from its US-1 list. Therefore, this could be a huge contributing factor to Disney’s lowest point.
In case you’re not aware, the US-1 List includes companies’ stocks that are considered to be on the “buy” list. Bank of America Merrill Lynch fundamental equity research analysts compose the list.
Stay Connected
So, as Disney hits their lowest mark in 52 weeks in the stock market, we all await their response and financial report. Stay connected to MickeyBlog on Wednesday, May 11, 2022, for the report.
Article information: www.benzinga.com
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