SIX - Disney rises to new record as California begins to ease park restrictions

Walt Disney (DIS) is up 4.4% and has hit its all-time high today after late Friday news that California has moved to ease restrictions on theme parks as of April 1. Disneyland won't be able to open up as of that date, since Orange County is still in California's most restrictive COVID-19 categorization, the Purple Tier. But the state's move does pave the path for a quicker return there and for other parks. Theme-park peers are also higher today: Cedar Fair (FUN) +2.3%; Six Flags (SIX) +5.6%; SeaWorld Entertainment (SEAS) +5.7%. B. Riley boosted its price targets on the theme park names after Friday's news, saying that even if the parks can only run at 25% or 50% capacity, "we understand that they can be operated to easily cover variable costs."

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Disney rises to new record as California begins to ease park restrictions