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