The Walt Disney Company is taking a huge financial hit in its woke war against Florida’s parents and Governor Ron DeSantis. The House of Mouse has lost $63 billion dollars in market capitalization since March.
According to Breitbart News, “Shares of Disney have plummeted 23.5 percent since the start of March, falling from $145.70. Market cap is down $62.6 billion, from $265.3 to $202.7 billion.”
It’s the worst performing stock in the Dow Industrial Average.
The downward spiral began in March, when Disney CEO Bob Chapek came out against Florida’s Parental Rights in Education bill, promising to fight the bill, and to be “a better ally for the LGBTQ+ community.”
NEW: Disney CEO Bob Chapek grovels, apologizes, and pledges to "be a better ally for the LGBTQ+ community." He delegated the company's moral authority to the "LGBTQIA+ Advisory Council" and now those internal activists have taken him as an ideological hostage. pic.twitter.com/efOSOmb47a
— Christopher F. Rufo ⚔️ (@realchrisrufo) April 7, 2022
“Our goal as a company is for this law to be repealed by the legislature or struck down in the courts, and we remain committed to supporting the national and state organizations working to achieve that,” the company said in a statement.
Statement from The Walt Disney Company on signing of Florida legislation: pic.twitter.com/UVI7Ko3aKS
— Walt Disney Company (@WaltDisneyCo) March 28, 2022
Governor Ron DeSantis and the Florida legislature responded by stripping away Disney’s special governing privileges in Florida. DeSantis blasted Disney for being headquartered in California while trying to fight Florida parents and pushing gender ideology on elementary school children.
“For Disney to come out and put a statement and say that the bill should have never passed and they are going to actively work to repeal it — I think, one, was fundamentally dishonest. But two, I think that crossed the line,” DeSantis said at a press conference.