Bob Iger, a former CEO at Walt Disney Co (NYSE: DIS), has made a comeback to the firm after the ousting of Bob Chapek. And less than 24 hours after Iger’s return, the new CEO said that he is planning a major shakeup of the company’s management. Although Disney stock responded negatively to the news, investors are optimistic that the new CEO will bring life to the firm and possibly foster a further bullish trend on the stock.
To help stock traders eying the Walt Disney stock, Invezz has created a brief article on the best places to buy it and what Peloton is.
To find out more, please continue reading.
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The Walt Disney Company, commonly referred to as just Disney, is an American media and entertainment multinational company headquartered in California. It was founded by two brothers (Walt and Roy O. Disney) back in 1923 under the name ‘Disney Brothers Cartoon Studio.’
Before settling on its current official name, The Walt Disney Company was previously known as ‘Walt Disney Productions.’
The Walt Disney Company is mainly known for its film studio division that goes by the name The Walt Disney Studios and includes Walt Disney Pictures, Marvel Studios, Walt Disney Animation Studios, 20th Century Studios, 20th Century Animation, Searchlight Pictures, Lucasfilm, and Pixar.
However, it operates other businesses including television, media streaming, broadcasting, theme park resorts, publishing, and consumer products. It owns and operates the ABC broadcast network and cable television networks that include the famous National Geographic.
Walt Disney is also a publicly traded company that traded on the New York Stock Exchange under the ticker NYSE: DIS.
Disney’s stock has been trying a comeback in the past few days and Iger’s return may be a major booster. Nevertheless, the changes at the top come after the company’s stock had fallen nearly 40% this year.
Disney has spent heavily to compete in streaming, a business that has become costly and less profitable than cable television and cinema.
Analysts expect Disney stock to correct the current price drop, especially after Friday’s monster price surge. Everything is however pegged on the performance of the new CEO.
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