DIS - Can Disney Stock Keep Hitting New 52-Week Highs?
2024-03-19 12:30:00 ET
It's been a Mickey Mouse March for Walt Disney (NYSE: DIS) investors. Shares of the media giant hit a 52-week high earlier this month. The stock closed on Monday within 1% of lifting that ceiling even higher. Why is Disney trouncing the market this year, up 26% in 2024 to more than triple the market's 8% climb? More importantly, can the shares continue to move higher from here?
The road to here is fairly easy to explain. Disney as an investment has underperformed the general market for three consecutive years. Most losing streaks eventually catch a break. There's also the win-win scenario of Disney's proxy battle that will be resolved one way or another in two weeks at the company's annual shareholder meeting. The real question that has to be on investors' minds is what happens after the House of Mouse concludes its yearly meeting on April 3. You're probably going to like the answer.
I have spent the past couple of months arguing that investors are the clear winners of Disney's proxy battle. Disney has been pulling out all the stops to make sure it delivers a steady trickle of good news heading into the early April showdown with a pair of activist investor groups.
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Can Disney Stock Keep Hitting New 52-Week Highs?