Shares of Walt Disney Co (NYSE: DIS) are down 06% to $ 124.70 this morning, after the media and entertainment company said it was laying off around 28,000 employees, mostly at its US theme parks and in California, where Disneyland remains closed due to coronavirus restrictions Earlier this year, the company closed theme parks across the world to curb the spread of COVID-19, although the Disney urged California officials to reopen their facilities last week
Security suffered a 5% cut in September Nonetheless, this month’s selling found a bottom at the 100-day moving average of stocks Since the start of the year, the DIS has been down 136%, and stays away from its Nov 26 high of $ 153.41
Despite these technical difficulties, analysts remain overwhelmingly bullish on Disney stocks, with 11 of the 19 covered having a « buy » rating or better, and the other eight having a lukewarm « expectation » or worse. the 12-month consensus target price of $ 134.91 is a comfortable 79% premium from current levels
Investors looking to participate in the next move in Disney stock may consider options The stock’s 30% Schaeffer Volatility Index (SVI) is in the bottom 11th percentile of its annual range As of In other words, options traders currently rate relatively low volatility expectations Additionally, the Schaeffer Volatility Scorecard (SVS) ranks 82 out of 100, implying that the DIS has tended to exceed volatility expectations over the past year – a boon for option buyers.
World News – CA – Disney Stocks Plummet After Park Layoffs Announced – Schaeffer Investment Research
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