Disney Stock Is Getting a Hidden Boost From This Genius Play
Despite a sustained recovery from dramatic pandemic declines and robust growth opportunities, Disney (NYSE: DIS) stock remains down 26% this year. It's still battling through the streaming wars as well as the rising costs, global economic challenges, and pessimism that are affecting the stock market.
And, though some may not have realized, there are many reasons to be hopeful about the future.
The name Disney may conjure up visions of Mickey Mouse and Disney princesses, but the House of Mouse owns several top film production studios and some of the most-loved movie franchises, such as Star Wars. It acquired Marvel Studios in 2009 for $4 billion, which was considered a huge sum at that time. But since then, Marvel has been the top-grossing film studio in the world, with more than $26 billion in sales. Its 2022 hit Doctor Strange in the Multiverse of Madness has grossed nearly $1 billion at the box office just by itself.
Source Fool.com
