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Why Disney Stock Rallied Today

TheMotleyFool

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Shares of Walt Disney (NYSE: DIS) rose 5% on Friday. A strong opening performance from Black Panther: Wakanda Forever and reports that China was moving to ease its COVID restrictions helped to spur the rally.

The popular new Marvel movie generated $28 million from Thursday night previews in the U.S. and more than $30.8 million internationally. The encouraging debut has Black Panther: Wakanda Forever projected to earn over $200 million in ticket sales during its opening weekend.

The good news comes at a time when Disney and other movie producers have struggled with declining box office results. The movie industry has yet to fully recover from its pandemic-related downturn.

Source Fool.com

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