Disney Is Losing $30 Million per Day. Is It Time to Sell the Stock?
Walt Disney (NYSE: DIS) may be losing up to $30 million per day while its theme parks remain closed, its cruise ships docked, and its movie theaters shuttered, according to The New York Times. The company has furloughed workers at impacted divisions and borrowed $6 billion to see it through the current coronavirus crisis.
Even the Disney divisions which are open -- its TV and cable networks -- are struggling. ESPN, for example, has little to talk about and has resorted to airing archival sporting events and some unique competitions created to fill the void.
Disney+ is a positive. The streaming service has climbed to 50 million members, but that growth may slow as the production of new shows has ground to a halt.
Source Fool.com
