Disney stock surges toward best weekly performance in 20 months

Shares of Walt Disney Co.
DIS,
+3.30%
shot up 2.4% toward a four-month high in afternoon trading Friday, enough to pace the Dow Jones Industrial Average’s
DJIA,
+1.27%
gainers. The rally puts the stock on track for a 13.0% weekly rise, which would be the best weekly performance since it hiked up 14.0% during the week ended Dec. 11, 2020. The week’s performance was highlighted by 4.7% jump on Thursday, after the media and entertainment giant reported better-than-expected fiscal third-quarter results and announced a new pricing strategy for its streaming service that included an ad-supported tier. The stock has now run up 31.3% since July 14, when it closed at the lowest price ($91.84) since March 2020, while the Dow has gained 9.8% over the same time.