Will Disney Stock Finally Get Back to $100 Next Month?
It's been more than eight months since Walt Disney (NYSE: DIS) last traded in the triple digits, but momentum is finally on its side. The stock that has lost to the S&P 500 (SNPINDEX: ^GSPC) for three consecutive years has more than doubled the market's return in January with a 6% return heading into this week.
This could be the time for the entertainment giant to end its run of trading exclusively in the double digits since early May of last year. It's just a 5% gain away from hitting $100 again. A strong fiscal first-quarter report and making progress in winning its upcoming proxy battle would go a long way to restoring investor support. Let's see why it could be time for an open house for the House of Mouse.
Investors won't have to wait long for the first potential catalyst. Disney reports financials for the first quarter of fiscal 2024 next week, stepping up with results shortly after next Wednesday's close on Feb. 7.
Source Fool.com
