Disney (DIS) Still Plans For Park Reopening This Saturday

disney reopening

Florida Governor Ron DeSantis is sticking firm to his decision to allow the reopening of Disney Parks on Saturday, 7/11.

DeSantis was quick to approve the reopening plans of Disney parks back when they were shown to him in May. Recent spikes in COVID-19 cases have not changed the Governors opinion.

disney reopening

“At a news conference on Monday, he praised the safety plans Disney has lined up, according to the Orlando Sentinel newspaper.

He said that Universal Orlando, which reopened on June 5, “is doing a great job” and that he believes attending a Florida theme park would be safer than going to a large private gathering.”CNN

There of course has been speculation as to DeSantis’ true motives in this Disney reopening. Considering his state generates most of it’s revenue from tourism and summertime travel.

disney reopening

But What Does This Mean For Disney (DIS) Shareholders?

If the opening on Saturday does not go well, and the Disney reopening is singled out as a reason for further COVID spikes, then it is likely we will see a slight decline in stock value in the coming weeks.

What About Disney World?

“Out in California, it’s a different story for the original park, Disneyland. It had set a phased reopening date on July 17, one week after Disney World in Florida.

But on June 24, Disneyland announced it was postponing the reopening amid a more cautious approach in California on the coronavirus, a significant rise in cases by late Jane and pushback from union members,

There’s been no new date set for Disneyland’s reopening.”CNN

Our Advice To Disney Stock Holders

Hold. Obviously. It’s Disney, they will come back. They have other streams of revenue even if the parks take a hit this year.

As for buying, you may want to wait and see how low the price will be headed.

Leave a Reply

Your email address will not be published. Required fields are marked *