Monday’s Headlines: Why Did Disney Jump 14%?

Monday’s Headlines: Why Did Disney Jump 14%?

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Walt Disney Co. (DIS) +13.6% (BILL) +4.6%

Zillow (Z) +4.4%

Smartsheet (SMAR) +4.1%

Trupanion (TRUP) +3.3%

Moving Down ⬇️

Lemonade (LMND) -8.1%

Lululemon (LULU) -6.7%

Ericsson (ERIC) -5.0%

Vail Resorts (MTN) -4.6%

Ctrip (TCOM) -3.7%

1. After 9 months of closures, 30,000 layoffs, and $7+ billion in losses from the pandemic, Disney (DIS) stock just hit an all-time high of $175.72 per share after rising 13.59% on Friday. Following Disney’s impressive ‘Investor Day’ showing last Thursday, it became abundantly clear that streaming is a big part of its future after it announced a slew of new content in the works. This, accompanied with raised forecasts of up to 240 million Disney+ subscribers by 2024, gave investors the confidence to bet that its streaming strength will offset any lingering weakness in other areas of the House of Mouse empire. Considering that accelerated vaccine hopes could soon see a return to normality for its almost $30 billion Parks and Experiences business, Disney+ comes as a massive boost during a difficult year. See the official press release here.

2. A 312% year-to-date rally in Peloton (PTON) has helped the connected fitness equipment maker join the ranks of its large-cap tech peers via inclusion in the Nasdaq 100 index. In its annual year-end shake-up, Nasdaq announced it would remove six companies from the index, replacing them with 6 companies on December 21, including Peloton and fellow MyWallSt stocks Match Group (MTCH) and Atlassian (TEAM). With sales up 172%, largely due to increasing consumer preference to work out from home amidst a global pandemic, inclusion in such a well-known, well-trusted exchange opens Peloton up to a whole new range of investors, as well as somewhat silencing bearish sentiment that it is simply a ‘fad’ stock. Read an official statement here.

3. Both Roblox and Affirm announced that they will postpone their respective flotations until next year due to delays at the SEC caused by a surge in listing requests from private companies. Affirm planned to begin pitching its shares to potential investors this coming week, and was expected to reach a valuation of $10 billion, while Roblox was predicted to hit $8 billion. There’s still a window for Affirm to launch the share sale this year, but Roblox has publicly stated that it is seeking improvements to the process as it relates to employees, shareholders and future investors, and will delay until 2021. Read more about that here.


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