Walt Disney Company (DIS) saw its stock rise by 1.86% to close at $117.60 on November 27, 2024, driven by the impressive box office performance of "Moana 2." The film set a new record for Disney Animation with $13.8 million in Tuesday preview screenings, marking the largest preview haul in the studio's history. This strong start has fueled investor optimism, suggesting that "Moana 2" could be a significant revenue driver for Disney during the lucrative Thanksgiving holiday period. Additionally, Disney's recent $43.25 million settlement in a gender pay discrimination lawsuit may have contributed to the positive sentiment, as it resolves longstanding allegations and could be seen as a step towards improving corporate governance and employee relations.
The stock opened at $115.44 and reached an intraday high of $118.20, with trading volume at 8,017,142 shares, about 83.5% of the average daily volume. Investor discussions on platforms like Reddit have also highlighted Disney's strategic decisions and financial health, particularly following its recent fiscal fourth-quarter earnings report, which showed a 6.28% increase in revenue to $22.6 billion. Despite concerns about Disney's $39 billion debt, the company's efforts to reduce financial liabilities and the potential benefits of integrating Fox's characters into the Marvel Cinematic Universe have been points of interest.