Why Investors Were Excited About Walt Disney Stock Today
Consumers are never crazy about price increases for their favorite products. Such bumps can be encouraging for shareholders of the companies behind the increases, however.
That was the case on Tuesday with Walt Disney (NYSE: DIS), following the entertainment giant's announcing hikes for most of its popular streaming video offerings -- one day before it's slated to publish its latest set of quarterly earnings. The company's share price closed the day 2.5% higher, easily topping the 1% gain of the benchmark S&P 500 index.
Disney's stand-alone streamers are all getting price hikes. The company's flagship Disney+ will cost consumers 25% more -- $9.99 per month -- if they're willing to accept ads on the service. The price of ad-free Disney+ is being raised 14% to $15.99.
Source Fool.com
