The Walt Disney Co. shares continued to fall this week. They closed Friday at $99.40, a 9 percent drop — the first time that the stock has fallen below $100 in over two years.
After a major shakeup of the company’s executive offices, Disney shares suffered a serious beating this week. The surprise firing of Peter Rice by CEO Bob Chapek on Thursday stunned the entertainment industry, and shocked Disney employees.
Disney shares have fallen 37 percent for the year. This makes it the worst performer in the Dow Jones Industrial Average’s past twelve months.
In April 2020, Disney stock closed below $100 for the last time.
The Florida Governor’s war against Disney continues to haunt Disney. Ron DeSantis (R), is upset about the state’s Parental Rights in Education Law, which prohibits teaching sexuality or gender ideology to children in kindergarten through the third grade.
Bob Chapek, CEO of Disney, agreed to radical LGBTQ activism and embraced a select group of woke employees. He stated that Disney would continue to fight to repeal the Florida law.
Florida took Walt Disney World in Orlando’s self-governing privileges away, potentially exposing it to new taxes and regulations.
