Disney Quickly Improving Upon Disappointing Stock Results in 2024

in Disney, Entertainment

Bob Iger with Disney stock price.

Credit: ITM

The Walt Disney Company is headed in the right direction.

Disney+ logo with Elsa from Frozen
Credit: Inside the Magic

Related: Disney Extends Free “Fastpass” Service for All Theme Park Guests

The Walt Disney Company’s stock price is improving significantly. Markets closed with Disney at $99.29 on Tuesday, February 6, its highest point in nearly a year, with the company opening to $97 Wednesday morning. This jump follows multiple dips throughout 2023, when Disney saw its lowest number since 2017. October 2023 marked the lowest point the company had seen in over five years, with Disney’s stock hitting a rock bottom of $79.

COVID-19 certainly did not help Disney on Wall Street, with the company’s stock tanking at the start of 2020, but Disney managed to dig itself out of the hole, rising to a peak of $197 in 2021.

Disney has a lot up its sleeve, with multiple projects in the works in both its theme park division and its film and television divisions. One of Disney’s biggest announcements came in 2023, with the company’s CEO, Bob Iger, announcing that Disney would be spending an estimated $60 billion on its theme parks in the coming decade.

Walt Disney Company CEO Bob Iger looking at Disney Brand Image with Castle and Logo
Credit: Inside the Magic

It’s impossible to discuss the financial state of the Walt Disney Company without also talking about the many controversies the company has faced in recent times, most notably its battle with Florida state Gov. Ron DeSantis. These two distinct yet intertwined parties found themselves embroiled in a controversial political and legal battle after DeSantis began attacking Disney for its stance on Florida’s highly criticized Parental Rights in Education Act.

DeSantis threatened Disney with various punishments, including the state takeover of Disney’s self-owned and self-operated Reedy Creek Improvement District. DeSantis was ultimately successful, with the state of Florida taking control of this district, giving it the new name of the Central Florida Tourism Oversight District. DeSantis hand-picked new members for the board and threatened to essentially change the way Walt Disney World operated.

Disney sued DeSantis and the state of Florida for infringing on its freedom of speech, prompting DeSantis to quickly challenge the suit.

Stay tuned here at Inside the Magic for all Disney Company news. 

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