Why Disney Stock Was Soaring Today
Shares of Disney (NYSE: DIS) were surging today as the entertainment giant caught a tailwind from the broad market rebound and its Disney+ streaming service was launched in much of Western Europe.
The stock also seemed to benefit from the perception that it has been oversold as shares have fallen sharply during the coronavirus crisis, which has forced it to close all six of its theme parks around the world.
Shares were up 11.5% as of 11:05 a.m. EDT today compared with a 6.9% gain in the S&P 500.
Source Fool.com
