Home ForexTrading Trading Disney on ‘Star Wars’ fervor

Trading Disney on ‘Star Wars’ fervor

by Paul

With the next “Star Wars” film about a month away, Disney should continue to climb, “Fast Money” traders said.

The highly-anticipated “Star Wars: The Force Awakens” has already sold $50 million in tickets, and it does not hit theaters until Dec. 18. Buzz continues to build around the film, and Walt Disney shares should rally on that momentum, David Seaburg said.

“The momentum’s going to continue with Disney,” he said.

Disney shares are already up 27 percent this year.

Seaburg noted, though, that “it’s definitely priced in that ‘Star Wars’ is going to be an absolute hit.” He said the stock may start to “run out of steam” at about $140 per share, still much higher than its $120 per share closing price Friday.

Trader Guy Adami, however, contended that investors should take profits sooner, at about $122 per share.

Investors can hold on to Disney shares for now, added traders Steve Grasso and Brian Kelly. Grasso owns Disney shares.

He added that the “Star Wars” effect should go beyond Disney. Grasso believes Electronic Arts, maker of the “Star Wars: Battlefront” video game, should continue to rally.

Shares have already climbed more than 50 percent this year.

Kelly also looked to Hasbro, which makes “Star Wars” toys. The company’s stock has already climbed 37 percent this year.

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