Why Is Disney Stock Down 37% This Year?
While many tech companies flourished throughout the pandemic thanks to home-bound consumers investing in new office and entertainment equipment, companies like Disney (NYSE: DIS) suffered considerable losses from the shutdown of movie theaters and theme parks.
And even as the pandemic lessens, Disney's stock is still down 37% year to date as it works to reclaim its losses. The company has made significant changes to its business, with a major push into the streaming industry. The move has paid off as Disney overtook Netflix for the most streaming subscribers in its latest quarter. Additionally, the company saw its parks business surge, signaling that guests are returning.
Disney has been a dominating force in the entertainment industry for decades. Let's see what could be ahead for the company and its investors now.
Source Fool.com
