Disney focuses on streaming and skyrockets on the stock market
Walt Disney Co. announced yesterday at the close of the market that it is going to begin a business reorganization, focusing on streaming services and its Disney + platform. In this way, the company will create a division for the development and production of exclusive content for its platform and another for distribution.
Disney’s goal is to counteract the effects of the coronavirus pandemic crisis that has forced it to delay major movie premieres, leading to the closure of many movie theaters. It also aims to compensate for restrictions on public attendance at its theme parks.
Investors have received Disney’s change of course and its commitment to streaming with optimism: its shares are registering increases of close to 5% in the pre-opening of the New York Stock Exchange.
Source: Admiral Markets MetaTrader 5. Daily CFD Disney chart. Data range: from January 16, 2020, to October 13, 2020. Prepared on October 13, 2020, at 12:30 p.m. Keep in mind that past returns do not guarantee future performance.
Disney announced at the end of September that it will lay off about 28,000 workers in its cruise and theme park section because it cannot overcome the impact of the restrictions caused by the coronavirus pandemic.
So far, in 2020, it has already lost just over 13% of its value. In the last five years, Disney has only closed 2016 negatively (-0.82%). It ended last year with a cumulative rise of 31%.
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