Disney Buys Own Stock During Market Plunge

disneyland-105271_1280When the market dropped out last month, Disney took advantage of dirt cheap prices, buying over $2.4 billion of it’s own stock.

“The market (gave) us an opportunity to buy the stock at meaningfully lower prices,” Staggs said at Bank of America Merrill Lynch’s media conference.

“So we’ve taken big advantage of that opportunity,” he said.

It’s almost an understatement. Disney’s recent buybacks represent nearly half of the company’s total repurchases of $5.6 billion in this fiscal year.

Find out more at CNN Money.

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