Disney shares jumped more than 10% at the start of trading Wednesday on the strength of a strong quarterly earnings report, improved streaming numbers and the news that a Disney theme park is in the works for Abu Dhabi.
Disney shares topped $100 for the first time in a month. Disney’s gains seemed to help spur a small rally for other traditional Hollywood stocks. Warner Bros. Discovery and Comcast shares were in green territory as the markets opened.
Disney’s stock price has been below $90 for most of the past month following the broader market plunge that accompanied the launch of President Donald Trump’s “liberation day” tariff spree. Disney shares were at $111 in late March before U.S. equities markets began a roller-coaster ride of 1,000-point plus swings up and down for the Dow Jones Industrial Average.
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