It’s been a rough run for the Walt Disney Company who, at this point, is probably wishing they didn’t step into the political arena. Stock prices in the Magic Kingdom dipped below $100 for the first time in more than two years on Friday, continuing a downward trend for the stock that’s dipped more than 30% in six months.
From Breitbart News…
For the year, Disney shares are down a whopping 37 percent, making it the worst performer on the Dow Jones Industrial Average during the past 12 months.
The last time Disney stock closed below $100 was in April 2020.
Disney is still reeling from its war with Florida Gov. Ron DeSantis (R) over the state’s Parental Rights in Education law, which bars the teaching of sexuality and gender ideology — including transgenderism — to children in kindergarten through third grade.
CEO Bob Chapek caved to a small group of woke employees and committed the company to radical LGBTQ activism. He said Disney would continue to work to get the Florida law repealed.
Disney recently ousted head of programming Peter Rice, claiming he just wasn’t a good fit for the position. According to a report form the New York Post, Rice’s departure has been a terrible blow to company morale.
“It’s not good for the company. Morale is terrible,” a Disney insider told The Hollywood Reporter. “During all the press about the DeSantis fiasco, it’s incredibly uncomfortable, for a CEO whose power is slipping away, to have the person who is seen as your successor sitting in the room with you,” the source told The Hollywood Reporter. “You kill that person.”
Shares of the Walt Disney Co. continued their free fall this week, dropping 9 percent to close Friday at $99.40 — the first time the stock has closed below $100 in more than two years. https://t.co/AnrxiE3SEq
— Breitbart News (@BreitbartNews) June 11, 2022