Danielle Shay Expects This Dow Laggard To Hit New Highs

On CNBC’s "Trading Nation," Seema Moody discussed Dow Jones components that can catch up, as the stocks were down more than 10% from their 52-week highs, despite the index hitting a record high this week.

Simpler Trading director of options Danielle Shay said she likes Walt Disney Co (NYSE: DIS) despite the stock being beaten down with theaters, theme parks, hotels, and cruises being hit by the pandemic.

Analysis: Was Barclays' Disney Downgrade A Bad Call?

Shay said she was still a buyer of Disney as the brand was "not going anywhere." The company’s streaming service Disney+ has been the "shining star" through the pandemic, she added. The stock had a nice pattern on the weekly chart and could reach fresh highs when things get back to normal.

Price Action: Amgen Inc’s (NASDAQ: AMGN) shares are down 24% from their 52-week highs, while Boeing Co’s (NYSE: BA) stock has lost 23%.

Shares of Intel Corp (NASDAQ: INTC) and Caterpillar Inc (NYSE: CAT) are 19% off their 52-week highs, while Disney’s stock is down 16% from its peak.