Entertainment
Disney Investors Look Beyond Board Battle as ‘Cheap’ Stock Soars
- Disney is up nearly 35% in 2024, outpacing S&P 500 and Netflix
- Shareholders vote this week for board seats amid proxy battle
Wednesday’s shareholder meeting provides the latest test for Chief Executive Officer Bob Iger.
Photographer: Joe Raedle/Getty ImagesAs Walt Disney Co. looks set to conclude a showdown over the composition of its board, bulls have sent the stock soaring.
The shares have rallied nearly 35% this year, more than triple the gain of the S&P 500 Index. Buoyed by better-than-expected earnings, a new strategy for ESPN and Hulu and cost-saving job cuts, the stock has outperformed the 25% rise of streaming rival Netflix Inc. in that time.