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9 May 2022
Disney Stocks Dip even as Dr. Strange 2 Sees Robust Opening
The Index Today
On Monday, Walt Disney stocks slid during premarket trading even though Dr. Strange 2 saw a favorable opening weekend, as another potential broad selloff looms on the horizon.
According to Investing.com, Disney stocks plummeted by 2.1% by 08:25 AM ET (1225 GMT), slightly falling behind the S&P 500 at 1.6%. This comes despite favorable signs pointing towards Disney’s recovering performance in the film industry following its pandemic-induced slump.
Over the weekend, Dr. Strange 2 brought in around $185 million in box office earnings from theaters across North America, outperforming The Batman, which generated $134 million in revenue. Dr. Strange 2 marks the most robust opening of the year till date, with a global revenue of $265 million amounting to $450 million in earnings so far, reported Investing.com.
Disney’s resumption of its movie business as it gears up for major releases in the summer while also lifting coronavirus restrictions at its theme parks points towards the conglomerate’s return to the pre-COVID era activity despite waning response to its streaming service, reported Investing.com.
