If Walt Disney Co (NYSE: DIS) was a pure theme park company, there would be a reason for "massive concerns." But this isn't the case, Michael Bapis, managing director at Vios Advisors at Rockefeller Capital Management said last Friday on a CNBC "Trading Nation" segment.

Disney's Diversified Business

Disney's business has evolved over the past five to seven years to the point where it's now heavily diversified, Bapis said. Most recently, the launch of the Disney+ streaming platform gives the company a new direct to consumer business and media distribution strategy.

The company's theme parks unit "will hurt" in the near-term due to the coronavirus (COVID-19) pandemic and some level for pain could linger on for up to two years, he said. But in the interim, the streaming business offers a form of offset to lost revenue.

"It's just a product of the environment, it's a product of the markets that are just a ‘sell everything' type of a market," Bapis said. "I do believe you could dip your toe into owning Disney now and you know, 12, 18, 24 months, it's definitely going to be higher."

See Also: 7 Media And Entertainment Stocks To Buy, Sell And Hold

Buy Disney's Stock Near $90?

Investors should be aware that a stock like Disney will rebound before its business fully returns to normal, Miller Tabak equity strategist Matt Maley also said on "Trading Nation." In fact, stocks "always bounce" way before the company's fundamentals go back to normal.

The $90 level coincides with a level of resistance seen over the past few years. But investors should "take your time" in buying near $90 per share and avoid jumping in "with both feet."

"You're going to get some great prices here and one to two to three years, you're going to look really, really good in this stock," he said.

Disney's stock traded higher by 4.5% around $98 per share at time of publication.

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