Shares of The Walt Disney Co. (NYSE: DIS) jumped about 4% yesterday after hedge fund Third Point LLC disclosed a new stake in the entertainment giant. As per a WSJ report, Daniel Loeb-led Third Point now has a close to 1% stake in DIS stock valued roughly at $1 billion. Previously, Third Point held 4.1 million shares of Disney, which it offloaded earlier this year. At that time, the activist hedge fund investor thought it would be difficult for the streaming giant to bolster its subscriber base amid growing macroeconomic concerns.
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