How Entertainment Giant Disney(NYSE:DIS) stands strong after Thursday’s hit and continues to Grow.
As the virus spreads many states have set a limit on any large gatherings of humans, 35% of Disney profits come from their parks along with cruises. Disney stock continues to rise on the premarket after taking a hit Thursday, oppose to see many others that continue to fall. Other giants rebounded after falling Thursday evening, Disney was not one. This does not mean Disney doesn’t make a great buying opportunity. These shares aren’t immune from falling, however, companies like Disney make very good long term investments for anyone’s portfolio.
If you look back to 2007 – 2009 we can see a similar situation happening with Disney. A staggering decline from levels of around $29 in October 2007 (the pre-crisis peaks of the market) to levels of around $14 in March 2009 (as the markets bottomed out) and rebounded strongly to levels of about $28 in early 2010. Holding Disney is the smartest/strongest move as of now and expect to see a good return as the coronavirus fears fade away.
March 13, 2020