In what has been a historic year for The Walt Disney Company, we review how 2022 will go down in the record books for the theme park and entertainment giant.
In 2021, Disney’s stock price had fallen -14.51%, and many analysts believed the company was setting the stage for a significant rebound. Coming into the year, many Wall Street analysts named Disney stock as one of their top picks for 2022. Disney stock was called a top pick for 2022 by highly respected firms such as Morgan Stanley and Wells Fargo Securities.
Despite the current downtrend, many well-known investors have been trying to call the bottom for the stock. For example, CNBC commentator Jim Cramer tweeted on November 20 this year that he thought $98 was a reasonable entry price. As of today, the stock is lower by another $10. One parity account on Twitter called “Inverse Cramer ETF (Not Jim Cramer),” which tracks Mr. Cramer’s stock calls had its own opinion on the call:
— Inverse Cramer ETF (Not Jim Cramer) (@CramerTracker) December 20, 2022
As Mickey Mouse famously says, “oh boy,” were they wrong on that call. If the current trend holds, with only a few more days left in the trading session for 2022, Disney stock is set to have its worst year since going public 50 years ago.
Shares of The Walt Disney Company have declined by nearly a staggering 45% this year and are setting up to go down as the company’s worst annual performance in almost five decades.
For many fans and outsiders, it was easy to blame Bob Chapek, the former CEO of The Walt Disney Company. Now with Bob Iger back in the saddle, things are a little more complicated. When the stock price dropped earlier this year, many attributed it to the onslaught of criticism The Walt Disney Company faced for its decision regarding Florida’s Parental Rights Bill.
The question going into 2023 is what magic Disney CEO Bob Iger has up his sleeve to get Disney shares, Disney Parks, and Disney Media turned around in the right direction. There is a lot to fix, but is he up to the task?
Do you think Bob Iger can get Disney’s stock moving in the right direction in 2023? Let us know your thoughts by leaving us a comment below.