Disney (DIS) was one of the first stocks that I bought when I started investing in March/April 2020 so this was not an easy decision to sell out of my position. At the time I originally bought Disney I did not have a defined plan. As I developed my plan over time, it became apparent that Disney did not fit into my plan.
Even though I sold my position in Disney, I still believe it is a good stock to own. Disney is an iconic brand that is known worldwide. The Disney theme parks are a must go to destination for many families. Now, Disney has entered into streaming with Disney+ which could become a major revenue contributor. All of this combined makes it look like Disney will have a bright future.
Why I Sold
Some of you may be asking why I sold if Disney has a bright future. First, Disney suspended its dividend over two years ago so it does not provide the income I am seeking. Secondly, I also do not view Disney as a growth stock. While it may experience some growth, I think stocks such as Amazon, Google and others will outperform Disney. Third, due to the share price, it would be difficult for me to trade options to generate income. And lastly, streaming is very competitive right now. Disney could spend a lot of money to compete with the likes of Netflix, Amazon Prime and others and not win the streaming wars.
While I still feel Disney is a good stock to own for some people, it just did not fit into my plan anymore. This recent runup in the stock price seemed like a good time to get out of my position and take profits of about 28%. Do any of you own Disney? If so, what are your plans for the stock? As always, thanks for following along.
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*Disclaimer – I am not a financial professional. The information shared here should not be considered financial advice. I am just a factory worker sharing my experience as I strive to achieve financial freedom. Before investing or making any financial decision do your own research and due diligence or consider seeking the advice of a financial and/or tax professional.
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