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Disney Stock Rallies as Disney+ Tops 50 Million Paid Subscribers

New York Netflix Coronavirus covid-19 country rallies
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hollywoodreporter.com
hollywoodreporter.comhollywoodreporter.com:

Wall Street on Thursday rewarded The Walt Disney Co. for its streaming battle success against Netflix on news that Disney+ had hit 50 million paid subscribers globally.

Shares in Disney rose $3.48, or 3.5 percent, to $104.49 on the New York Stock Exchange after opening trading on the day at $107.92.

Stock in the studio is well down from a 52-week high of $153.41 after investors factored in the recent COVID-19 impact on Disney.

The latest stock rally follows the announcement a day earlier that Disney's streaming service, which launched Nov. 12, had surpassed the 50 million subscriber milestone.

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