Entertainment Stocks Rise Amid Strong Day of Trading

Good news on Wall Street was good news for Netflix, Disney and more

Mickey Mouse, the mascot of The Walt Disney Company, waves before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City. (Getty)

Potentially as a result of better-than-hoped data related to inflation, as well as an electoral midterm that didn’t result in a so-called “red wave,” an unexpectedly strong day on Wall Street gave several high-profile entertainment stocks a solid boost.

Generally, entertainment stocks outperformed the S&P 500, which ended the day at 3,956.37 (+5.54%) as the Dow rose 3.7% to end the day at 33,715.317.

Netflix jumped over 20 points and nearly 8% today, ending with $274.97, while Snap also rose just over 1 point, ending the day at 10.73, while Alphabet, Inc. was up 6.77 point (+7.75%) for a day-ending price of $94.17 per share.

Even Twitter, currently dealing with much-publicized challenges related to Elon Musk’s new ownership, stayed even at $53.7.

Meanwhile, Facebook/Meta, itself announcing plans to lay-off 11,000 employees, jumped 10 points and 10.25% for a new $111.87 share price.

In terms of explicitly Hollywood stocks, Sony Group Corporation ended the day up 5 points (+6.65%) for an $80.50 per share price point. Lions Gate Entertainment Corp. rose 9.56% to end the day at $6.99.

Paramount Global, which got hammered last week after announcing its third quarter numbers, jumped 1.04 points (+6.7%) for a new $16.57 share price.

Warner Bros. Discovery, itself dealing with turmoil and challenges due to regime changes and attempts to synergize and lessen a debt load, jumped 9.76% (+0.96) to end the day at $10.80.

Walt Disney, whose much-anticipated “Black Panther: Wakanda Forever” opens theatrically this week, rose 3.71 points (+4.28%) for a new $90.46 share price. This was days after boasting 164 million subscribers for Disney+.

Finally, among movie theater chains, AMC Theaters soared 18.11% to bring its price to $6.13, while Cinemark ended the day at $11.92, or +0.21 and +1.79%. IMAX ended the day at $13.70 (+5.96%).