LevelMagazine – USA – Disney stock hits an all-time high, posting a market cap of $ 300 billion

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Good morning Disney shareholders. Emphasis on the “good. When the U. . S.. . The stock markets woke up on Friday. Walt Disney Company (DIS) shares opened around $ 170 per share, setting a new all-time high.

Disney’s market cap, which flirted with numbers of up to $ 309 billion when the markets opened, is now above $ 300 billion for the first time. For comparison, Netflix’s market cap is $ 219 billion.

Market capitalization is the total dollar value of a company’s shares outstanding in the market.

Also read: Disney promises 10 new Marvel series and 10 Star Wars series in the next few years

Yes, Wall Street has been pretty impressed with the company’s streaming subscriber updates – and all of the other many, many announcements – and no one seems to be concerned about rising prices.

Disney’s share price closed at 4:00 p.m. on Thursday. m. ET at $ 154. 69 per share. It’s now in double digits.

The stock first surfaced after close of business and very early on the company’s 2020 four-hour Investor Day when the number of Disney subscribers was announced. The momentum continued throughout the evening and into the morning.

Also read: Disney’s $ 16 billion bet: An avalanche of new content for streaming – and also for cinemas

According to CFO Christine M, Disney spent around $ 2 billion on content in 2020. McCarthy. The company now predicts that content spending will soar to $ 8 billion to $ 9 billion in 2024 – especially when it includes the streaming service’s sixth brand, Star, which will have a huge international presence.

Disney, which launched in November 2019, expects to see peak losses next year and be profitable in fiscal 2024, the company’s chief financial officer said.

As of Dec. . 2, Disney had 86. 8 million subscribers. The company expects that number to rise to 230 to 260 million worldwide by the end of fiscal 2024.

That made everyone forget that all of our parks are mostly closed due to coronavirus, as the Bobs – CEO Chapek and Chairman Iger (picture above) – had planned.

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The Walt Disney Company, NYSE: DIS, Disney’s Animal Kingdom theme park, share

levelMagazine – USA – Disney shares hit an all-time high, with a market cap of $ 300 billion
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Ref: https://www.thewrap.com

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