Why I'm Holding Disney Stock No Matter How Badly Its Theme Parks Perform This Year
There is no company more vulnerable in the near term to the COVID-19 outbreak than Disney (NYSE: DIS). While the broader market has fallen more than 20% year to date, Disney's share price has already lost a third of its value this year.
The NCAA March Madness basketball tournament has cancelled all further games, and the NBA has suspended games for the current season. The Centers for Disease Control and Prevention (CDC) are advising people not to take unnecessary trips.
Disney is going to suffer in the short term. The combined revenue from the parks, experiences, and products and studios segments generated about half of its total revenue in fiscal 2019 (which ended in September). Operating profit from the parks segment alone made up 45% of Disney's total last year.
Source Fool.com
