Disney: Buy the Dip?
Amid the COVID-19 crisis, Walt Disney (NYSE: DIS) has seen massive declines. The pandemic has shut down several of Disney's businesses and led to plummeting revenue and profits. While that may not hurt the company as much as the financials indicate, it is little wonder that Disney stock has fallen more than 25% year to date.
However, despite a bleak outlook, some parts of Disney have prospered during this crisis. Moreover, as conditions slowly return to normal, both Disney and its stock should be positioned to recover.
The pandemic has forced Disney to close several of its theme parks, leave its cruise ships in port, and halt film and television production. Additionally, with virtually all sports on hiatus, ESPN has no new games to broadcast, which has dramatically lowered the network's viewership.
Source Fool.com
