Why I'm in No Hurry to Purchase Disney Stock
It's been a great run since the financial crisis of 2008 to 2009, but now, the news for Disney (NYSE: DIS) can seemingly get no worse as of late. Disney shares are still up 150% from the market peak in Oct. 2007, but the stock has given up over 30% of its value year to date. CEO Bob Iger retired early, the theme parks and cruises are closed down, theatrical releases have been delayed, and sporting events are on hold. No wonder the stock is suddenly underperforming the market overall.
Granted, Disney is still one of my favorite stocks for the long haul. With its treasure trove of intellectual property and world-class resorts, plus an enviable media empire, shares will eventually come roaring back. I plan to begin accumulating a stake again -- more than likely later this year -- but I'm in no hurry to call a bottom quite yet.
Image source: Disney.
Source Fool.com
