Disney Stock Breaks Records – Comcast (Universal Parks), AT&T, and Netflix All Down
Let’s just cut to the chase, the stock market is loving Disney right now and it is showing up in their stock price. Once again Disney’s stock price hit an all-time high today, breaking $180 a share for the first time and peaking at a new record high of $183.40 earlier on Wednesday 12/30.
While the company is feeling the pain from the pandemic in their time tested income generators: theme parks, cruise line, and box office, their streaming services, Disney+, Hulu, ESPN+, Star, and HotStar, are surging at a rate that no one could have predicted. Their lineup of new offerings for 2021 and 2022 has give investors confidence that Disney’s best streaming days are still ahead of them.
The theory is that if Disney’s streaming services can amass subscribers at rates 4-5 times faster than even the most bullish estimates with only their classic library and The Mandalorian, then the rush of new, high-quality, and high-interest content will only push those rates even higher.
While the Dow Jones was up for the day, Disney was one of the only stocks tied to a streaming service that saw any positive gains. Comcast, which owns Peacock streaming service along with Universal theme parks, was down for the day, along with AT&T, which owns HBO Max, and Netflix. All three posted losses for the day while Disney broke all-time records.
Investor’s are also feeling confident from reports showing pent up demand for Disney’s theme parks and cruise lines, indicating a large surge of guests once vaccines are widely available and are seeing wide-spread participation.
We will continue to follow the business side of the Walt Disney Company here at The DisInsider, so keep checking back for further updates.