It’s been a rough year for Disney.
According to a story from Breitbart News, Barron’s is reporting Walt Disney Company shares have a “tough road ahead” and aren’t likely to rebound anytime soon; the House of Mouse’s stock has fallen 60% this year so far.
“Another painful cycle of cuts to earnings forecasts appears to be in the cards for Disney’s fiscal 2023, meaning the shares will have to fall further or their price-to-earnings ratio will rise, making the stock look even more expensive,” Barron’s said.
From Breitbart News:
As Breitbart News reported, Disney recently reported fiscal fourth-quarter earnings that fell significantly short of expectations, sending the stock tumbling in what was its worst trading day in two decades.
Shares of the Walt Disney Co. plummeted late Tuesday and into early Wednesday to their lowest level in nearly a decade as concerns mount over the company’s profitability and wild spending habits on Disney+ and other streaming services. https://t.co/MiQhdlv97F
— Breitbart News (@BreitbartNews) November 9, 2022
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