Why Disney Stock Surged to a New All-Time High Today

Shares of Walt Disney (NYSE: DIS) jumped 6.3% to a closing high of $201.91 on Monday after health officials said theme park companies could resume operations in California beginning on April 1.  

Coronavirus-related park closures have weighed heavily on Disney's financial results. The media conglomerate's revenue fell 22% to $16.2 billion in its fiscal 2021 first quarter due largely to a 53% decline in sales in its parks, experiences, and products segment. 

Walt Disney's stock price rose sharply on Monday. Image source: Getty Images.

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Source Fool.com