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