Why Walt Disney Stock Slipped on Monday
Walt Disney's (NYSE: DIS) annual fan event failed to move the needle on its stock, a situation compounded by a significant price target cut from an analyst. Neither rocked the shares badly, but Disney still landed in negative territory on Monday. Its stock slumped by 0.3% on a day when the S&P 500 index traded flat.
At its D23 Expo, much of Disney's hype concerned the numerous expansions and additions to its network of amusement parks.
The company will undergo a major expansion of Walt Disney World in Florida. Among other new attractions will be a "land" -- park area -- devoted entirely to the top villains in its suite of characters. The company has already broken ground on the land. Meanwhile, its Pixar unit's Cars franchise will be the subject of two new attractions at a reimagined Frontierland, including one racing and one family-friendly ride.
Source Fool.com
