Loop Capital added insult to Disney's injury Tuesday, downgrading the stock to hold from buy as the stock fell after a top executive left the company to become CEO of social app TikTok. According to Loop Capital analyst Alan Gould, Disney will be hurt by its theme park closures as well as declining consumer sentiment once the parks reopen to the public. "The earlier a vaccine is available the sooner the parks, stadiums and theaters will open, but the economy will likely have a multi-year impact on park attendance and Covid-19 has accelerated the negative trends in the traditional media business," Gould wrote. Read More...
Loop Capital added insult to Disney’s injury Tuesday, downgrading the stock to hold from buy as the stock fell after a top executive left the company to become CEO of social app TikTok. According to Loop Capital analyst Alan Gould, Disney will be hurt by its theme park closures as well as declining consumer sentiment once the parks reopen to the public. “The earlier a vaccine is available the sooner the parks, stadiums and theaters will open, but the economy will likely have a multi-year impact on park attendance and Covid-19 has accelerated the negative trends in the traditional media business,” Gould wrote.
