A Bull Market Could Be Here: 3 Reasons to Buy Disney Stock
When it comes to Walt Disney (NYSE: DIS) as an investment these days it appears to be a Country Bear Jamboree. The boo birds are everywhere, driving the stock to a nine-year low earlier this month. Short interest is in its historical range, but the stock chart shows that bulls are in short supply.
It's just a matter of time before sentiment changes. You can't keep the House of Mouse in the doghouse forever. This could very well be the start of a new bull market for Disney stock. Let's go over a few of the reasons why better days could be ahead for the entertainment giant and its shareholders.
Disney has been talking up a willingness to part with noncore assets, but there's been a lack of actual transactions announced so far. This could change soon. Bloomberg reported this week that Reliance Industries is closing in on a multibillion-dollar cash and stock deal to acquire a controlling stake in Disney's India streaming operations. Sources tell Bloomberg that a deal could be announced as early as next month. Spoiler alert: Disney reports its fiscal fourth-quarter results on Nov. 8.
Source Fool.com
