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Disney's Stock Hits All-Time High Amid Vaccine Rollout, Star Debut

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Disney's Stock Hits All-Time High Amid Vaccine Rollout, Star Debut

Walt Disney Co's (NYSE: DIS) stock reached an all-time high of $200.60 Wednesday morning behind encouraging news of the global vaccine rollout and a new streaming channel hitting Europe.

What's Going On With Parks: Pfizer Inc. (NYSE: PFE) Moderna Inc. (NASDAQ: MRNA) and Johnson & Johnson (NYSE: JNJ) told a House subcommittee Tuesday they plan to have 240 million doses of their COVID-19 vaccines available in the U.S. by the end of March.

Shares of stocks in "reopening sectors" such as travel, cruises and leisure are trading higher as the vaccine rollout lifts the travel demand outlook.

Why It Matters: Disney Parks and Resorts across the globe either remain shuttered or are open with limited capacity. Accelerated vaccine rollout is vital if Disney's to open parks and resorts in 2021.

See Also: How To Buy Disney Stock

What's Going On With Star: Disney has also given streaming fanatics much to be excited about this week, with the launch of Star, an adult-oriented streaming service included with Disney+. Popular shows like “Family Guy,” and “Ugly Betty” are among programs making their Disney+ debut.

Star is now available in Europe and will be making its debut in Singapore, Australia, New Zealand and Canada in the near future. There’s no timetable yet when Star might make its debut stateside.

Why It Matters: It can be said more streaming programming options only sweeten the deal for current subscribers and consumers who were otherwise on the fence about subscribing.

It’s no secret Disney+ has been one of the top streaming services in terms of subscriber growth over the past year. Disney reported 94.9 million subscribers for Disney+ in its most recent earnings report. Meanwhile, streaming kingpin Netflix Inc (NASDAQ: NFLX) has over 200 million global subscribers.

Disney's stock traded around $197.78 at the time of publication.

 

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