3 1/2 months ago I shorted Disney.
With the writers strike over it could be argued Disney can now get back to committing its slow-mo brand suicide, and I expect it will. Also the consumer is very stretched, so streaming services like Disney+ should suffer in this recession, but I care far more about “is” vs. “should”.
What is evident is that Disney is virtually no lower now than it was in early September, while during the month that’s passed since then everything from major indexes to Berkshire has been tanking as predicted. To me that shows relative strength in DIS, and as equities sell-off I want to cash out on shorts.
I’m up 13% on my Disney short and closing it.