Disney hit a new 52-week Low Yesterday
Walt Disney Co (DIS) shares touched a new 12 month low during Wednesday's trading session. That price was $86.25 a share. It didn't stay that way for long.
All on ESPN woes. Give me a break. Disney is so much more than ESPN. Even Barron's agrees. The stock is holding today above $90 and that appears to be the floor.
The problem with Disney is that close to half of its income comes from it's media networks division with ESPN making up the big bulk of that. The costs of running ESPN are outweighing the number of people what subscribe to it. Despite efforts like SlingTV, only 500,000 people have signed up for it. ESPN has lost 7 million paying subscribers in the past 2 years. ESPN is dying.
Disney had it's greatest single quarter in the company's history. The company reported record revenue of $15.24 billion for a $490 million beat. Disney is more than ESPN, its theme parks, Marvel, Star Wars, Pixar, and more.
Jim Cramer went to bat for Disney (DIS) as well yesterday, here's that:
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