Walt Disney Company (The) (NYSE:DIS) - After A Bearish Prediction Last May, Analyst Admits He Was Wrong About Disney
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Spotify Technology S A (NYSE:SPOT), (GHC) - BofA Raises Spotify Price Target On Streaming Platform s Near-Term Prospects
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Alexi Rosenfeld/Getty Images
Stay-at-home orders meant a strong year for streaming stocks, including Roku and Spotify. Comcast also gained, but many entertainment stocks ended 2020 lower.
Many Hollywood stocks are ending 2020 lower than 2019 despite a gain in the broad-based S&P 500 stock index. Movie theater stocks, whose financials and liquidity have been hit hard by the pandemic, are wrapping up the year with particularly big drops.
On the other hand, streaming stocks, from global giant Netflix to device maker Roku and music streamer Spotify, got further boosts amid stay-at-home orders around the world. And thanks to the early success of its Disney+ streaming service, which hit 86.8 million subscribers as of early December, the Walt Disney Co. was the biggest gainer and Wall Street darling among Hollywood powerhouses.