Morris Mark is buying Disney stock
According to Morris Mark, investors should buy Disney down 20% over the past five months because it’s the leader of the global entertainment space. On CNBC’s “TechCheck”, he said:
Disney has a management that’s focused on creating a lot of content. We like it also because more than any other entertainment company, they’re able to monetize their IP through travel, lodging, cruises; they’re right where people want to be today.
In its fiscal first quarter, Disney handily topped Wall Street expectations and reiterated guidance for long-term subscriber growth at its streaming business.
Mark has confidence in Disney’s management
A sworn confidence in the management was among other reasons why the founder of Mark Asset Management is bullish on the Disney stock. He noted:
I like a lot of things Bob Chapek has done. I like that he understands the importance of streaming as the primary means of films and games distribution in the future and that he’s acquired streaming rights for ESPN. So, his technological vision is strong.
Earlier this month, Disney+ introduced a cheaper tier to boost subscriber growth and average revenue per user (ARPU).
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