Why Disney Shares Popped Today
Walt Disney (NYSE: DIS) closed at a more than eight-year low yesterday at $84.17 per share. With it down 44% in 2022, the stock is going to have its worst calendar year since 1974. But some investors are seeing that as an opportunity, helping to boost shares on the penultimate trading day of the year. Disney shares jumped nearly 5% earlier today and remained up by 3.6% as of 2:22 p.m. ET.
Investors may be looking to the past thinking 2023 will be a much better year for the stock. After it lost 54% of its value in 1974, shareholders enjoyed a 133% return in 1975. The results in 2023 might not be at that level, but there are good reasons to think the stock may have room to move higher in the coming months.
Source Fool.com
