Disney shares rose more than 3% on Monday to $37.20, their highest level since March 19.
The company’s stock price has risen steadily over the past year, as it continues to grow its animated film and live-action franchises.
The stock has seen record highs on several occasions, especially in 2016, when the stock surged almost 30% in the first quarter of the year.
Disney is one of the world’s largest entertainment companies, with over 150,000 employees in more than 150 countries.
But the company is not a household name, with its movies, TV shows and music streaming services dominated by the company’s other businesses.
Disney CEO Bob Iger has said the company wants to diversify away from its core business of movies and television.
Disney shares were up 8% in midday trading on Monday.
The market was trading at $37,216.20.
The Disney stock price rose 2.2% in its first trading session of the day, and then increased 6.6% the following day.
The biggest gainers in the Disney stock market came from companies with smaller market capitalizations, with Disney shares jumping nearly 7% in late-afternoon trading.
Disney stock is also up significantly on news that the company plans to cut 10% of its workforce from its theme parks in 2017.
In 2017, Disney is slashing nearly a quarter of its staff from its Walt Disney World resorts and resorts.
The cuts are expected to take place over the next three years.
Last week, Disney reported a profit of $2.7 billion for the year ending March 31.
Analysts expect Disney to report an operating loss of $1.3 billion.
In an earnings call on Monday, Iger said the focus is on the future and “how to grow the business and create a future where the company does more for the world and we are able to serve more people, as well as how we make the right choices for the next five, 10 years.”
Disney has been able to keep its stock price high because of strong earnings.
Disney’s stock rose more rapidly during the 2016 presidential election year, when President Donald Trump and his supporters rallied to support his candidacy.
The presidential race also provided a boost to Disney stock prices.
Disney stock has gained more than 10% in 2017, and by far the largest gainers are in the entertainment industry, according to FactSet.
For more on Disney stock, check out The Wall Street Journal’s Top 50 Disney stocks and The Hollywood Reporter’s Top 10 Disney stocks.
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