10
Credit: DisneyDespite the incredible numbers revealed in the Q4 earnings report, The Walt Disney Company is still struggling, specifically with Wall Street.
For the second time this year, the stock price for The Walt Disney Company ($DIS) has closed at under $100 per share.
As of publishing this article, Disney’s stock price sits at just above $99. This marks the second time the price has dropped under $100 this year.
Back when the stock price dropped earlier this year, many attributed the price to the onslaught of criticism The Walt Disney Company faced for its decision regarding Florida’s Parental Rights Bill.
While all of this is speculation, many would suggest that some of the drops in stock price correlate with the controversy and backlash the company has faced within the last few months, as stated above. The month of March was not a great one, with Disney finding itself at the center of a tense situation regarding Florida’s controversial bill.
Word got out that the company had funded backers of the bill, known as the “Don’t Say Gay” bill, despite The Walt Disney Company preaching inclusivity and progressiveness.
This launched Disney into a firestorm, with people from both sides criticizing the company’s stance. Eventually, Disney CEO Bob Chapek publicly denounced the bill and pledged millions to the HCR (Human Rights Campaign).
It seems as though the damage had been done, at least with Republicans as several conservative legislators, including Florida Gov. Ron DeSantis, took aim at the company and its special protections.
This price nears the 52-week low of $90.23. It also closes in on the 5-year low of $85.98, which occurred in March 2020 during the start of the COVID-19 pandemic.
What are your thoughts on The Walt Disney Company?