Disney's stock at last check was trading little changed. It closed the regular Wednesday session off 3.1% at $123.28.
The film, starring Scarlett Johansson, had already been delayed once before, from May 1 to Nov. 6. The Burbank, Calif., company said the film will now release on May 7.
Steven Spielberg's "West Side Story," based on the classic Broadway musical, has been pushed back a year and will hit theaters on Dec. 10, 2021.
Fans will also have to wait longer for movies like "Death On The Nile," "The Empty Man," "Deep Water," "Eternals," "King's Man" and "Shang Chi and the Legend of the Ten Rings," among others.
Major multiplex chains in the U.S reopened last month at reduced capacity and with health protocols in place. Some markets, including New York City and Los Angeles, remain closed.
Earlier this week, Disney released the trailer for its popular show "The Mandalorian" which returns to its Disney+ streaming platform on Oct. 30.
On Sept. 8 Deutsche Bank analyst Bryan Kraft raised his rating on the entertainment group to buy from hold and lifted his share-price target to $163 from $128. The analyst was impressed by the company’s video-streaming efforts.
In August, Disney said it would release its live action drama "Mulan" on Disney+ on Sept. 4. The film also released in theaters worldwide with lower-than-expected receipts due to rising political tension between Beijing and Washington as well as coronavirus-induced lockdowns.