Disney Stock Price Plummets, Continues To Shatter After Major CEO Announcements

in Disney, Entertainment

A man in a suit and striped tie speaks in front of a digital stock market display board showing various numbers and figures in red and green, including Disney Stock. The image has a diagonal white and black border on the right side.

Credit: Disney

Despite a plethora of new and exciting projects, Disney is once again struggling, with the company’s stock price continuing to fall.

In an animated scene from "Inside Out 2," Joy, Disgust, and Anger stand together on a pink, brain-like surface. Disgust looks annoyed, Joy appears curious, and Anger is fuming. Fear is in the background, falling backward dramatically.
Credit: Pixar

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Disney has a massive slate of upcoming entertainment projects on the way, with this summer being one of the most exciting in recent memory for fans of Marvel Studios and Pixar. In July, the Marvel Cinematic Universe (MCU) will continue once again, only this time with the first official, “canon”Deadpool film, Deadpool & Wolverine

This latest Marvel film marks a turning point for the entire brand. Deadpool teams up with Hugh Jackman’s Wolverine in a cameo-filled, third-wall-breaking extravaganza unlike anything fans have seen. Details regarding the film have remained under wraps, but rumors suggest a lot of familiar faces will appear during the movie.

On the flip side, this summer, Disney and Pixar will release Inside Out 2, the sequel to the smash hit original film that was released nearly a decade ago. The film once again follows Riley and her emotions, only this time as she navigates early adulthood and endures puberty. A host of new emotions will be introduced in Inside Out 2, with the film already setting records for Pixar and Disney.

Two joyful young women walking hand in hand through a lush, verdant pathway framed by large, twisted tree roots and exotic plants.
Credit: Disney

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Things are just as exciting for Disney’s theme park division, with the company and its chief, Bob Iger, revealing several new rides, attractions, and lands are on the way. The most notable upcoming addition will be found at the original Disneyland Resort, with Iger announcing the West Coast will receive its own version of Pandora – The World of Avatar.

Unfortunately, The Walt Disney Company cannot catch a break on Wall Street, with Disney’s stock price continuing to fall over the last few months.

Today, May 23, 2024, Disney is resting around $101. It is down over 2% over a five-day period and down over 10% over on a month-long period.

On May 7,  Disney’s stock price landed at $105, marking a daily drop of over $10 or 9.04%. While this number was an improvement compared to the price of $90 half a year ago, it’s still a massive drop from the $118 closing number Disney managed to secure earlier this year.

Looking at things on a far larger scale, Disney is down a whopping 23% on a five-year scale.

Bob Iger with Disney stock price.
Credit: ITM

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These results are incredibly disappointing, especially considering all of Disney’s recent announcements. Last year, Iger announced the company would be investing a massive $60 billion in its theme parks, both domestically and internationally. The budget includes recent projects like Disneyland’s Avatar expansion and Tiana’s Bayou Adventure, a ride that is about to open at Magic Kingdom.

Disney also had an impressive year in its entertainment division, generating revenue of $6.19 billion over the second fiscal quarter of 2024. According to Disney’s own reports, this marks an increase of 12% compared to a year earlier. Iger announced Disney managed to tighten up losses in its streaming division, noting Disney+ only lost $18 million compared to a loss of over $600 million during the same period a year prior.

Disney’s entertainment sector was profitable overall, with streaming revenue up a total of 13%.

Will you be visiting a Disney theme park this year?

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