Disney is Down 50% From Its High. Time to Buy?
It would be hard to look at the media properties owned by The Walt Disney Company (NYSE: DIS) and not be impressed. From Star Wars to Mickey Mouse, the company owns iconic brands. So why is the stock down 50% since a recent peak in early 2021? Although it's too soon to make a final call, this is one story that may not have a happy ending soon.
Disney's stock plunged in early 2020 when the coronavirus started to spread around the world -- and for good reason. Running amusement parks is a huge business for the media company. Making movies is vital to results too, which was another problem given that social distancing requirements resulted in movie theaters getting shuttered. The company ended up eliminating its dividend, which was an appropriate, though dramatic, move that highlighted just how bad things had gotten during the pandemic.
Image source: Getty Images.
Source Fool.com
