Why Is Everyone Talking About Disney Stock?
Media giant Walt Disney (NYSE: DIS) is no stranger to miles and miles of headline space, but the media blitz in 2020 is far more negative than usual. In short, the COVID-19 pandemic has not been kind to the House of Mouse.
Disney closed its theme parks in March. The company's cruise ships sit idle in various ports, Disney's hotels are locked and empty, and the company also had to shutter its movie and TV content production studios along the way. Even the cable TV division is suffering from a lack of live sports and low interest from advertising customers.
In short, Disney's business is at a low ebb right now. The company is still focused on safety above all else, bowing out of an opportunity to reopen Disney World as early as June. Disney is able to survive a very long shutdown with $14.3 billion of cash reserves and another $17.3 billion of untapped credit lines at its disposal.
Source Fool.com
