The Walt Disney Company’s stock ($DIS) has reached a 52-week high for the third consecutive day.
What’s Happening:
- Earlier today, March 28th, $DIS reached an intraday high of $123.74, which is a 52-week high.
- This marks the third day in a row that Disney stock reached a 52-week high.
- As of publication, the stock price sits at $122.70.
- The stock price is up nearly $50 from a 52-week low of $78.73, reached in August 2023.
- While some analysts are crediting the increase to Nelson Peltz’s proxy contest, Disney has pushed back on that narrative.
- The company released a short presentation claiming that their strong performance has driven its 46% share price gain, not Peltz.
- Disney attributes the high to their Q1 FY2024 earnings, where they revealed information on the $1.5bn equity stake in Epic Games, sports streaming service with Fox and Warner Bros. Discovery, and other initiatives.
- Stock prices also saw a 3% bump in November 2023 when Disney acquired the remaining 33% stake in Hulu from Comcast.
