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Disney (DIS) Soars On Lofty Streaming Aspirations
Disney (DIS - Free Report) is up over 15% to new all-time highs today following its 2020 Investor Day, which painted a very bright future for Disney+.
As of December 2nd, Disney+ had 86.8 million subscribers just 1 year after its launch. Disney+ is now expecting 230 to 260 million subscribers by the end of 2024, nearly 4 times its initial estimates. This would make Disney’s streaming platform bigger than Netflix (NFLX - Free Report) is today.
On top of its core platform, Disney’s other direct-to-consumer products Hulu and ESPN+, have over 50 million subscribers combined.
Disney is investing a tremendous amount in content for its core streaming platform. They vowed to release 10 Marvel series, 10 Star Wars series, 15 Disney series, and 15 feature films over the next few years.
Analysts quickly raised price targets following this presentation, sending DIS soaring. I’m not chasing this rally, despite my love for the business. I will wait to buy on a pullback, preferably around $150 per share if I can get it.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>