Walt Disney Co. (NYSE:DIS) is sitting pretty in the stock market this week. DIS stock is currently selling for $140.86 on the NYSE, up roughly 1% at the time of writing. It seems this movie maker is going from strength to strength.
What’s happening over at Disney?
At the beginning of April, the company unveiled its new streaming service Disney+. Since then, DIS stock has soared 25%. The service is pitted to take a huge market share of the lucrative movie streaming industry, ousting giant Netflix (NASDAQ:NFLX) in the process.
One reason for the optimism is Disney’s ownership of the Marvel Cinematic Universe—the ownership of which Disney bought for $4 billion in 2009. That Universe has since bagged Disney over $18.2 billion in box-office sales—a sign of a victorious acquisition. Not to mention the likelihood of a huge fanbase waiting to catch these movies again on Disney+.
Endgame Beats Avatar at the Box Office
At the San Diego Comic-Con this weekend, the cinema giant announced up to ten new movies to be released over the next two years that will extend its 26 movies from this genre.
But it didn’t stop there. It also announced that its movie, ‘Avengers: Endgame,’ is now the biggest grossing movie of all time. The epic finale to Marvel’s Infinity Saga knocked James Cameron’s ‘Avatar’ off the top after having held the post for nearly a decade.
‘Endgame’ has now grossed $2.79 billion USD worldwide. Avatar has grossed $2.7897 billion by comparison.
At Comic-Con, Marvel Studios President Kevin Feige thanked the onlookers: “Thanks to you, Avengers: Endgame is the biggest film of all-time.”
However, DIS stock fell this week despite the company’s announcement regarding its winning movie. There’s speculation that the market is reacting to another announcement: that Natalie Portman is to be cast as the new Thor.
The first Disney produced Marvel movie was released in 2012, and now the company is on its way to make billions more from the global box office. The $18.2 billion also doesn’t take into account what the company has made from Marvel merchandise. That is likely to be a whole other bankroll.
DIS stock is on a roll as the moviemaker goes from strength to strength. What are your thoughts? A worthy investment?
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