The Walt Disney Company announced late Thursday that it would raise its monthly subscription fee for Disney+, its OTT service, to $7.99 per month as of March 2021.
It then tripled its subscriber projections for 2024.
Investors responded in resounding fashion, with DIS soaring by nearly 14% in the final hour of trading Friday on the NYSE.
At the Closing Bell, Disney shares were trading at $175.72, up 13.6%. A $179.39 session high was logged in midday trading, as volume soared past 113.5 million shares.
Average volume for Disney is 9.68 million shares.
The growth for DIS is exceptional, as shares were at $112.64 six months ago and were at $93.53 on March 11.
With today’s activity, Disney stock will finish at an all-time high.