1 Blue Chip Stock Near a 9-Year Low to Buy Hand Over Fist
This year is the 100th anniversary of The Walt Disney Company (NYSE: DIS), but it's been a tough 2023 for the entertainment giant. Its stock hit a nine-year low on Sept. 7.
The decline is understandable given the range of its business challenges. Industry strikes by writers and actors are delaying the production of new, revenue-generating content. The fate of its linear television business is in question as consumers move from traditional TV to streaming video. And despite this shift, the company's Disney+ streaming service isn't profitable.
That's quite a litany of challenges, but Disney's share price inched up after a dispute with cable company Charter Communications was resolved this month. With the stock still near a multi-year low, does it make sense to scoop up shares? Absolutely, and the reasons are numerous.
Source Fool.com
