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Disney Stock Rebounds on Hopes of Theaters and Parks Reopening, Pushing Market Cap Above Netflix Again
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variety.com
variety.comBy Todd Spangler NY Digital Editor Shares of Disney rose 4.5% Friday, closing to a 38-day high of $106.63, as investors were encouraged by new federal guidelines setting a timetable for when large venues — including theaters and theme parks — could reopen amid the coronavirus pandemic.
That boosted Disney’s market capitalization to over $192 billion. And it ended Netflix’s brief two-day stint of being worth more than the media conglomerate.
Shares of Netflix dropped 3.7% on Friday after analysts suggested enthusiasm for the stock was excessive; that gave Netflix a current market cap of $185.6 billion.
The decline reversed a four-day rally that kicked the streamer’s share price to record highs. On Thursday, the White House released a
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