Stock In News: DIS, PALT, RGS
3:09 pm Friday, June 10th, 2022
Today, content is once again the key focus for investors in Disney (NYSE:DIS). The company announced that Peter Rice, the former head of television content at Disney’s Television Studios and ABC Entertainment, has been ousted. This move, along with broader market weakness, has sent shares of DIS stock below $100 per share. At sub-$100 per share, investors now have the potential to pick up DIS stock near its 52-week low. This dramatic downturn we’ve seen in recent days has been rather indiscriminate, with even the highest-quality blue-chip names seeing major declines. There are a number of reasons for this market weakness.
Paltalk (NASDAQ:PALT) stock was soaring more than 20% in early trading after acquiring ManyCam from Visicom Media for $2.7 million. The stock has since cooled a bit, however, currently trending up about 8%. As per an announcement this morning, Paltalk, a live-streaming and telecommunications company, acquired all asset’s related to Visicom’s ManyCam. ManyCam is a virtual camera application that allows users to sync their webcam with multiple video streaming apps simultaneously. Through the software they can also add various effects, filters, and enhancements to their streams.
Regis Corporation (NYSE:RGS) stock is heading higher on Friday following news of a partnership with Zenoti. Regis operates several haircare salons throughout the U.S. This includes Supercuts, SmartStyle, Cost Cutters, Roosters, and First Choice Haircutters. Regis currently operates more than 5,000 of these locations. So what does the deal with Zenoti cover? Zenoti is bringing its technology platform and support to Regis locations. This will allow it to upgrade Regis with a modern, digital experience that should increase engagement with its more than 3 million customers a month.
