Wall Street just likes a positive outlook. Netflix has never turned a profit, yet it's traded for far more than Disney is. Disney+ has similarly never tuned a profit, had all theme parks closed for periods of time over the last year, cruise line still off line, etc ,etc... and yet their stock price is at around the highest it's ever been.
Like I said, give Wall street a positive outlook and they tend to forgive, especially if investors believe in that outlook.