Walt Disney loses 33% of its stock
market value in one year
Walt Disney Co shares are the worst performers in the Dow Jones Industrial Average over the past year, falling 33% in the past 12 months.
Of the 30 companies that make up the Dow Jones, Disney saw its stock prices fall the most in percentage terms, followed by 3M,
which is down 25%, and Home Depot, down 23%.
Disney shares fell more than 5% on Wednesday and 2% on Thursday as investors remain nervous about streaming entertainment companies after Netflix's disastrous first-quarter results, due in part to russia's 700,000 subscriber base. Ukraine's 260,000 subscribers are probably also threatened. Disney+ subscription results recently disappointed Wall Street when the company released its quarterly results in November, causing the stock to fall.
The House of the Mouse House is also facing difficulties in Florida, where the state Senate on Wednesday passed a bill that would deprive Disney World in Orlando of its autonomous status.
The bill is now being transferred to the House, which is expected to pass it and submit it for signature by Republican Gov. Ron De Santis, who has publicly encouraged the legislature to pass the bill.
The sharp drop in Disney's stock comes as the company has embraced a far-left "woke" policy, particularly exposing young children to radical LGBTQ ideology. In doing so, the entertainment giant alienated millions of customers and drew the wrath of Republican leaders in Florida.
Of the 30 companies that make up the Dow Jones, Disney saw its stock prices fall the most in percentage terms, followed by 3M,
which is down 25%, and Home Depot, down 23%.
Disney shares fell more than 5% on Wednesday and 2% on Thursday as investors remain nervous about streaming entertainment companies after Netflix's disastrous first-quarter results, due in part to russia's 700,000 subscriber base. Ukraine's 260,000 subscribers are probably also threatened. Disney+ subscription results recently disappointed Wall Street when the company released its quarterly results in November, causing the stock to fall.
The House of the Mouse House is also facing difficulties in Florida, where the state Senate on Wednesday passed a bill that would deprive Disney World in Orlando of its autonomous status.
The bill is now being transferred to the House, which is expected to pass it and submit it for signature by Republican Gov. Ron De Santis, who has publicly encouraged the legislature to pass the bill.
The sharp drop in Disney's stock comes as the company has embraced a far-left "woke" policy, particularly exposing young children to radical LGBTQ ideology. In doing so, the entertainment giant alienated millions of customers and drew the wrath of Republican leaders in Florida.
Recently leaked internal videos show Disney executives and creative leaders openly advocating for the promotion of a gay and transgender agenda in the company's entertainment for young children. The leaks came shortly after Disney declared war on Florida's Parental Rights in Education Act, which prohibits the teaching of sexual and gender ideology to children from kindergarten to third grade.Disney CEO Bob Chapek bowed to pressure from a small group of employees who demanded that the company abandon its neutral stance on Florida law and fully embrace LGBTQ activism.
Florida Governor De Santis retaliated by revising Disney's privileges. They include the Disney World Autonomous District, a 10,000-hectare area known as the Reedy Creek Improvement District, where the company has powers close to those of a municipality and enjoys great latitude to govern itself and develop the land without government approval.
Florida Governor De Santis retaliated by revising Disney's privileges. They include the Disney World Autonomous District, a 10,000-hectare area known as the Reedy Creek Improvement District, where the company has powers close to those of a municipality and enjoys great latitude to govern itself and develop the land without government approval.
