Disney Stock: Bears Are Everywhere
It's been a grizzly week for the world's leading theme park operator. Walt Disney (NYSE: DIS) had to shutter a part of its most popular gated attraction for hours on Monday after a bear was spotted inside of Florida's Magic Kingdom. The entertainment giant attracted a different kind of bear on Tuesday, as its stock moved nearly 4% lower after announcing that it would nearly double the capital expenditures for its theme parks, experiences, and products to $60 billion over the next 10 years.
Investors could argue that bears have been everywhere since Disney stock peaked north of $200 in early 2021. The shares have gone on to shed 60% of their peak value. Tuesday's hit seems unfair. Ramping up capital expenditures is a smart move for Mickey Mouse. It's a bad take by the market.
Disney could've announced that it was throwing $60 billion into artificial intelligence and the stock would've gone on a mission to Mars. It probably wouldn't have been a smart move for Mickey Mouse. It would have been another bad take by the market.
Source Fool.com
