3 Reasons Disney Stock Can Stay Hot This Summer
Shares of Walt Disney (NYSE: DIS) slumped after the media giant posted mixed financial results last week, but investors can't be feeling too bad. The stock is still beating the market, something that Disney hasn't done since 2020.
A big reason for the stock's post-earnings retreat is that it warned of some potential softness in the current reporting period, the fiscal third quarter that straddles the end of springtime and the start of summer for Disney. It expects to recover by the end of fiscal 2024, but this doesn't mean that shareholders need to worry. Let's go over some of the reasons why Disney stock can stay hot even as the temperatures start to heat up in the coming months.
A big knock on Disney's performance for the 2023 calendar year is that it was a serial disappointment at the box office. It was the first year since 2015 that its theatrical release slate wasn't the highest-grossing collection of movies in theaters. Disney was off to a rough start in 2024 -- by design -- but the pipeline is finally starting to flow again.
Source Fool.com
