Disney Stock Hits All-Time High On Eve Of Streaming-Happy Investor Day

deadline.com:

With Covid-19 decimating theme parks, sports, production and other pillars of its business, the Walt Disney Co. should be limping toward the end of 2020.Instead, investors have bought into the media giant’s resilience in a big way, sending the company’s stock up more than 25% in the past month.

Shares finished today at $154.40, their highest closing price ever, after peaking at $157.45 earlier in the day.The balance sheet may be in tatters (with two straight quarters of losses and the first fiscal year of red ink in 40 years) but the stock is keeping the dream alive for a return to glory.

To quote the 1964 theme song reprised in the latest DisneyWorld TV ads, “There’s a great big beautiful tomorrow.”Vaccine approvals and the prospect of