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Disney's share price skyrockets as investors bet on new streaming service

Walt Disney shares rocketed to an all-time high Friday after the company moved aggressively into the streaming arena

Walt Disney Co. shares hit an all-time high Friday.

The Associated Press ·
Traders work at the post where Walt Disney Co. stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. Shares his an all-time high in early trading Friday as investors bet on a new streaming service unveiled Thursday. (Brendan McDermid/Reuters)

Walt Disney shares rocketed to an all-time high Friday after the company moved aggressively into the streaming arena.

The Disney Plus video steaming is being released in tandem with a blockbuster lineup of films coming out this year, including Aladdin, Toy Story 4, The Lion King, Frozen 2 and Star Wars: Episode IX. 

Shares in The Walt Disney Co. hit $129.85 at the opening bell Friday and closed at $130.06, up nearly 12 per cent.

Disney Plus will roll out in the U.S. on November 12 at a price of $6.99 US per month, well below the $13 monthly fee charged by Netflix, which holds a dominant position in the streaming sector.

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