Walt Disney Stock Tanks Amid Government Takeover

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Disney Stock Declines

Credit: Disney

Amid a tumultuous battle between it and the Florida government, Disney’s performance on Wall Street leaves a lot to be desired.

Donald duck holds two little boys hands.
Credit: Disney

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The last few years have arguably been some of the toughest years for The Walt Disney Company. During this time, the company has seen political battles with Florida Gov. Ron DeSantis, numerous executive shakeups, and of course, an unprecedented global pandemic. This battle between Disney and the state of Florida ultimately lead to a state takeover of Disney’s Reedy Creek District, stripping Disney of its self-governing status.

Navigating all of these issues has not been easy, especially under the leadership of Bob Chapek, one of if not the most controversial figures to ever work for Disney. Chapek served as CEO of The Walt Disney Company for roughly two years until Disney “pulled the plug” and replaced him with Bob Iger, who had previously served as CEO for almost two decades.

This decision was a bombshell in every sense of the word, shocking Disney Guests and fans alike. All of these controversies were reflected in Disney’s stock price, with the company hitting record lows on multiple occasions.

Exterior of The Walt Disney Company
Credit: Disney

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Now is no different, with The Walt Disney Company’s stock price falling far from where it was merely a month ago. At the time of publishing this article, Disney’s stock price currently sits at $93 per share, which is down over 13% when compared to last month.

It’s down almost 19% when looking at it in a six-month timeframe. Regardless, Disney is still posting humungous profits, something it shared at its most recent earnings call, which was led by Bob Iger.

During the Q1 earnings call, Iger actually dropped several bombshells, including news of job cuts, new sequels to fan-favorite franchises like Zootopia and Toy Story, as well as a company-wide restructuring. Disney even announced an entirely new Avatar experience would be coming to the Disneyland Resort in Anaheim, California.

What do you think about The Walt Disney Company? Stay tuned here at Inside the Magic for more Disney news stories like this one. 

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