The Walt Disney Company is known for many things—Mickey Mouse, princesses, world-class theme parks. Its more recent acquisitions into Marvel, Pixar, and now Fox Entertainment make it a great company.
But a great company doesn’t always mean it’s trading at a great price for investors.
That’s the case right now.
- Buy These 3 Cryptos to Beat Bitcoin
The cryptocurrency market is exploding in value right now…
Bitcoin broke through $60,000…. And dozens of cryptos have gone up more than 1,000%...
If you’re ready to start capitalizing on this massive boom, legendary crypto investor Matt McCall just released a new free report, “3 Cryptos to Beat Bitcoin.”
Shares of the media conglomerate surged following the announcement of its new streaming service, Disney+. With a huge entertainment catalogue and a starting price point of $7 per month, the company will be going head-to-head with the lowest-cost streaming services, some of which still interrupt their shows with advertising.
While the move is a great one for the company, it’s a move they could have started years ago. For the past few years, shares of Disney have traded in a $95-115 range, as solid operating results have come up against the ongoing deterioration of its lucrative cable contracts. As more and more folks move online, the amount of revenues gotten from its cable channels, particularly the ESPN franchise, has been declining at a rapid rate.
The new announcement has moved shares to the $130 range. Until the new service is fully built out, we’re looking at a new trading range, likely from $115 to $135 per share. Investors looking to own this great company should wait until they’re down to around $120 or so—even if it’s during the next market pullback—before buying.