Disney’s Stock Price Crumbles To Lowest In Over a Year Amid Florida Battle

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Mickey Mouse at Walt Disney World Resort as part of the 50th Anniversary Celebration

Credit: Disney

It seems the Mouse may be having a hard time keeping up.

Credit: Disney

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During the ongoing battle between the state of Florida and The Walt Disney Company, Disney stock has taken quite a hit. As of the writing of this article, the price of one share currently sits at roughly $117 per share, almost half of what it was in March of last year.

This figure marks a 17-month low for Disney’s stock price, its worst since late 2020. This comes at a very important and hectic time for The Walt Disney Company as the last few months have been an incredibly tumultuous time.

Cinderella Castle at Magic Kingdom
Credit: Disney

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As soon as word got out that the company had actually backhandedly supported Florida’s controversial Parental Rights law, fans, employees, and leaders were stunned. This resulted in the company backtracking with CEO Bob Chapek even pledging millions of dollars toward the Human Rights Campaign.

This “firm” stance against the new bill caused friction between the company and the state of Florida, with Gov. Ron DeSantis continuing to escalate the battle with incendiary words and potential actions. As of yesterday, Gov. DeSantis heightened the stakes, publicly announcing he was considering terminating the special treatment Disney has been receiving due to the state’s Reedy Creek Improvement act.

walt disney world railroad
Credit: Disney

In the past few weeks, both Florida’s Senate and House of Representatives passed a bill that would dissolve these special privileges from Disney. Just last week, Florida Gov. Ron DeSantis also signed the bill, putting it one step closer to completetion.

The Reedy Creek Improvement Act essentially allows Walt Disney World to reside in Florida unregulated, acting as its own “government” in a way. The act involved creating a special taxing district that acts with the same authority as a county government. For more information regarding this topic, click here.

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