NEW YORK (AP) — Walt Disney shares are rocketing to an all-time high in early trading after the company moved aggressively into the streaming arena.
The Disney Plus video steaming is being released in tandem with a blockbuster lineup of films coming out this year, including Aladdin, Toy Story 4, The Lion King, Frozen 2 and Star Wars: Episode IX.
Shares in The Walt Disney Co. hit $129.85 at the opening bell Friday, up 13 percent.
Disney Plus will roll out in the U.S. on November 12 at a price of $6.99 per month, well below the $13 monthly fee charged by Netflix, which holds a dominant position in the streaming sector.
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