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Stocks React to Disney Reopening

On Saturday, Disney World (DIS) in Florida began its phased reopening. The heavily-criticized park opening is occurring amidst the current rapid infection rises in its home state. This past Sunday, Florida reported the highest number of new single-day infections out of any state at over 15,000.

Pending the park’s reopening, Disney shares were up by 2% on Friday. It’s expected that further gains could be made, as Epcot and Hollywood Studios parks are set to reopen on Wednesday. To date, Disney stocks have experienced a loss of 17% due to the coronavirus’s impacts.

While guests are reportedly excited to visit the Magic Kingdom, it’s certainly expected to be a different experience for them with social distancing and various protective measures in place. Things like the famed fireworks shows are not currently being held to discourage crowds, masks are mandatory, employees are dispensing hand sanitizer throughout the park, and various hotels and restaurants located throughout the park remain closed for now.

While some may be questioning booking with Disney due to park changes and virus concerns, the company is still reporting bookings being made through 2021, a fact that certainly displays the fans’ desire to visit the beloved theme park once again.

Currently, Disneyland in California remains closed. The southern California park was set to reopen July 17th but has since delayed this reopening date due to current COVID-19 impacts within the state.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Trader Buzz). I have no business relationship with any company whose stock is mentioned in this article.


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