Risk assets move first. DVC owners aren’t stupid. No matter what DVC says, a fractional ownership interest in real estate is a security. And security prices fluctuate, both up and down, as we’ve all unfortunately seen. Unless Disney puts a floor under all contracts, which given obscene interruption in cash flow (Parks, cruise, cinema), is highly dubious in the short term, we could be looking a a major panic in this space very shortly.
They just put Onward straight on demand. That shd tell us all we need to know about their cash outlook.