A couple of weeks before Christmas, Disney (DIS) decided that the pandemic coast would be clear enough by May for it to send Black Widow, the next Marvel universe potential blockbuster–to movie theaters in May.
Not so far, the company has now decided. With rates of infection rising again across the country, Disney has decided to push the theatrical release of Black Widow, starring Scarlett Johansson, to July. The movie will also run on the Disney+ streaming platform, with its 100 million subscribers, for $30.
Disney shares are down another 2.17% to $184.64 at the close today, despite a generally strong performance by post-vaccine economic recovery stocks. Disney shares are now almost 10% down from their March 8 local high of $201.91. At today’s close the stock is just below its 50-day moving average of $184.89. The 200-day moving average support is at $146.49. Eyeballing the stock’s chart, there’s decent support at $172 and I’d be willing to buy shares at that level.
In other Disney news Variety is reporting today that Disney will raise the price of a Disney+ subscription to $7.99 per month, or $79.99 per year, for U.S. subscribers starting Friday. Currently, Disney+ costs domestic subscribers $6.99 per month, or $69.99 per year.
Disney is a member of my long-term 50 Stocks Portfolio. The shares are up 39.8% since I added them to that portfolio on May 16, 2019.
Full disclosure: I own Call Options on Disney in my personal portfolio.