Disney Stock Selloff Continues, But Dow Jones Still Adds 181 Points
Investors continue to send shares of Dow Jones Industrial Average (DJINDICES: ^DJI) component Walt Disney Co (NYSE: DIS) lower on Nov. 12. Shares of the media and entertainment giant are on track to finish the week down more than 10% from the intra-week high, following its earnings release on Wednesday. The Dow Jones is on track to close up 187 points as of 3:50 PM ET. If current levels hold, the Dow will finish the week down just under 1%.
Investors may be watching the wrong thing at Disney right now. Image source: Getty Images.
Disney's earnings results were not well-received by Wall Street. It seems that the vast majority of the focus is on the company's streaming business, mainly Disney+. And for good reason, since a large portion of the company's current revenues is tied to legacy industries, such as linear pay-TV and the movie industry, which are in decline in much of the developed world -- largely because of the growth in demand for video streaming.
Source Fool.com
