Disney Keeps Shooting Down Bearish Arguments, 1 Hit at a Time
There are only a handful of original attractions at Walt Disney's (NYSE: DIS) Magic Kingdom still operating at the Florida park that debuted nearly 53 years ago. Visitors lost another one last month, with the closure of the Frontierland Shootin' Arcade. The permanent closure of the Old West-themed shooting gallery only upset a small segment of the gated attraction's fan base. It's also not as if world's largest theme park operator needs the target practice.
Disney has been knocking down bearish arguments with ease lately. Its premium streaming business turned profitable two quarters ahead of time earlier this year. Disney is also kicking off this summer with a pair of record-breaking theatrical releases. The stock may be falling short of the market averages for the fourth year in a row, but headwinds are becoming tailwinds. If you're still bearish on the House of Mouse you may want to revisit your naysayer thesis.
If your local movie theater seemed a bit crowded over the weekend you didn't step into a time warp. Deadpool Wolverine -- the latest release from Disney's superhero hotbed, Marvel -- raked in $205 million in domestic ticket sales. It's the strongest opening for an R-rated film, ever. It's the biggest debut since 2021's Spider-Man: No Way Home. In another fun fact that speaks to Disney as a perennial hit factory, Disney's studio is now the force behind 16 of the 18 most successful domestic opening weekends.
Source Fool.com
