The Walt Disney Company shares jumped by over 10% at the start of trading on Wednesday after the company announced an Abu Dhabi theme park.
Disney Stock
As of writing at approximately 10:45 a.m. ET, Disney’s shares are $101.67, an increase of 10.31% from Tuesday’s close at $92.17.
This is the first time Disney’s stock has surpassed $100 since late March. Shares dropped below $90 in early April amid President Trump’s initial tariff announcements. Stock was falling just a few days ago after another announcement from Trump about tariffs on films made overseas.
The Abu Dhabi Disney theme park will be funded, constructed, and operated by Miral, but Disney will oversee creative development. Disney CEO Bob Iger said it will be their most technologically advanced park featuring their “first modern castle.”
Disney released their Q2 FY25 earnings report on Wednesday, announcing a total revenue of $23.6 billion and a 13% increase in domestic Disney Parks operating income.
Watch the announcement video for the new theme park:
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