Disney’s worth has been all over the place lately, with stock plummeting and then surging after the company announced it had surpassed 50 Disney+ subscribers.
Cinderella Castle at Magic Kingdom
Last week, Netflix was reported to be worth more than the Walt Disney Company while only days later Disney once again rebounded and regained the lead.
But today, after Disney began furloughing all non-essential employees and Cast Member yesterday, it doesn’t come as much of a surprise that Disney’s stock is once again slipping. At press time, Disney shares are trading down about 4% according to The Warp.
Sleeping Beauty Castle at Disneyland
The Warp also reported that last year, Disney stock was trading as high as $153.41 while last month, it fell as low as $85.76.
Although the near future for the Walt Disney Company is up in the air, Credit Suisse’s Doug Mitchelson said, “we continue to see a path to ~$160/share for Disney the next few years – streaming value creation should easily outstrip linear TV declines, and we expect a full rebound in theme park and Hollywood operations over time.”
Slinky Dog in Toy Story Land
And while re-opening the Disney parks will certainly help generate some income for the company, which has just taken out over $6 billion in loans, it could potentially be a while before Disney World and Disneyland are full of visitors once more.
Analysts are predicting many guests will delay returning to the parks right away due to lasting impacts of this health crisis even after a vaccine is created due to financial concerns and safety reasons. Ultimately, it will take reopening and time to see how quickly guests return to pre-closure levels.
We’ll continue to follow this developing story and update you as more information becomes available.
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So Disney prices surged when Disney+ hit 50 subscribers?
Man that is a low bar. 😂😂😂