Publications
Publications
- May 2022
- HBS Case Collection
Third Point in 2020: Growth is Where the Value is? (B)
By: Robin Greenwood and Denise Han
Abstract
In early May 2020, Daniel Loeb’s team at Third Point was evaluating a potential growth opportunity in the Walt Disney Company and whether investor activism might play a role. Battered by the effects of COVID-19, the company’s stock had initially tumbled to $86 and then somewhat recovered to $110. This case explores the headwinds and tailwinds of Disney’s ability to flesh out value for investors, including the growth of its Disney+ platform and the recovery of its theme parks. A supplementary case detailing Third Point’s ultimate decision and its aftermath is also available.
Keywords
Growth; Equity; Disney; Value; Economics; Finance; Investment; Strategy; Management; Investment Activism; Investment Return; Growth and Development; North America
Citation
Greenwood, Robin, and Denise Han. "Third Point in 2020: Growth is Where the Value is? (B)." Harvard Business School Supplement 222-030, May 2022.