Disney+ gains help propel your DIS shares

Article Excerpt

In November 2019, Disney launched Disney+, its new subscription video-on-demand streaming service. The company expected Disney+ to see steady growth. But the pandemic hugely accelerated its adoption by consumers as countries around the world went into lockdown. That gave Disney a critical boost when its other businesses were suffering. WALT DISNEY CO. $173.64 (New York symbol DIS; TSINetwork Rating: Above Average) (www.disney.com; Shares o/s: 1.8 billion; Market cap: $312.6 billion; No current dividend) has now soared to record highs. It’s currently up 18.2% from when we first recommended the shares in our December 2019 issue at $146.93. It represents a solid return for our subscribers. That’s especially impressive considering the stock dropped to as low as $79.07 in March 2020 when COVID-19 forced the closure of Walt Disney World Resort parks and hotels as well as the company’s Disney stores. Streaming service Disney+ is growing so rapidly that the company now expects its worldwide subscriber count could triple to 260 million by 2024. That would be…