Why Walt Disney Shares Fell 14.5% Last Year
Walt Disney (NYSE: DIS) stock had a roller-coaster ride in 2021, according to data from S&P Global Market Intelligence. The stock trended downward, punctuated by a thrilling jump in February and a scary drop in November. When the dust settled, Disney's shares had lost 14.5% in 52 weeks. Here's how it all went down.
The House of Mouse limped into 2021, battling coronavirus effects at every turn in 2020. The company had recently reorganized its operating structure in order to funnel more resources into its streaming video business. Most of Disney's theme parks were still closed down, waiting for the go-ahead from local governments to reopen their turnstiles. The cruise line remained anchored at port. COVID-19 vaccines were not yet widely available.
But it wasn't all doom and gloom. Movie theaters were back in business, albeit with limited capacity and minimal foot traffic. The focus on streaming media was paying dividends as Disney+ closed 2020 with 94.9 million subscribers, supported by a total of 51.5 million paid accounts for ESPN+ and Hulu. Coronavirus vaccines became available to the public in November 2021, indicating a gradual return to normal life -- possibly opening the door to fill the pent-up demand for entertainment activities such as cruises and theme park visits.
Source Fool.com
