By
Steve Muchoki
April 16th, 2024
Disney has announced that its Springs Resort in Florida will be partially reopened on Wednesday. As a result, DIS stock price increased by 7%.
The stock of American media and entertainment conglomerate the Walt Disney Company (NYSE: DIS) hiked over 7 percent. This happened after Disney announced the partial reopening of its Springs Resort in Florida on Wednesday.
Yesterday Disney (DIS) stock reached $116.85, signaling a 7.15% surge. The stock closed on Monday at $109.05 and opened for trading on Tuesday at $114.47. Today in the pre-market, DIS stock is at $115.35 (-1.28%). However, before reopening its Springs Resort, Disney acknowledged that the U.S. and the world are at a critical time owing to the ravaging coronavirus.
Hence, several precautionary measures have been put in place to ensure the safety of people who visit the resort at this time. Part of the measures put in place is the mandatory use of face masks by guests and employees. Also, before being allowed to enter, guests would have their temperature checked, and plexiglass dividers have been installed at registers.
Reportedly, Disney has chosen to face the reality of time amidst all the precautionary measures. The company has announced that guests still assume all the risks of contracting the virus when they visit.
An inherent risk of exposure to COVID-19 exists in any public place where people are present. The virus they explain in a disclaimer on their website is a dangerous one and highly contagious. It could lead to severe illness or even death. Visitors thereby voluntarily assume all the risks related to exposure to COVID-19.
After shops open at Disney Springs Resort on Wednesday, seven days later, Disney retail shops like Disney stores and Disney eateries would open.
Disney Stock Rise before Springs Resort Reopening Contributes to Dow Jones Surge
As we have mentioned earlier, on disclosure that Springs resort in Florida would reopen, Disney (DIS) stock began to surge, hiking by over 7 percent. This surge has also contributed to the Dow Jones Industrial Average surge.
Not only Disney but also other firms like American Express Company (NYSE: AXP), Boeing Company (NYSE: BA), Raytheon Technologies Corporation (NYSE: RTX) also have contributed to Dow futures increase significantly.