Disney Stock Won't Be Hitting New Highs Anytime Soon
Walt Disney (NYSE: DIS) may seem to be on top of the world these days. The debut of its Disney+ service has topped 60 million premium subscribers, and the platform hasn't even blown out its first birthday candle. We're waist-deep in a pandemic, and Disney's unmatched vault of content has helped inspire us through these past seven months of desperation and, once every so often, boredom in the new normal.
The NBA wrapped up its season earlier this week at Disney's ESPN Wide World of Sports complex. Every single pro basketball game over the past two and a half months has taken place at Disney World's live sports venue -- in Florida, no less -- and not a single case of COVID-19 materialized among the players, coaches, and crews.
Even Disney's ABC and Disney Channel have thrived in this climate. Our TV has helped entertain us when we needed distractions and enlightened us when we needed to see more clearly. This is Disney's world we're living in right now, but the same can't be said for the stock of the media giant. Disney shares are still trading below the all-time high they hit just before Thanksgiving last year. What will it take to get Disney back to hitting all-time highs? Unfortunately for investors it's going to take a lot to return the House of Mouse to its former glory -- and that's going to take a lot of time.
Source Fool.com
