The Walt Disney Company may have had a banner year as far as profits for its theme park division, but the rest of the company is not faring as well.
Investors have been unhappy with big losses on the streaming side of Disney’s business, and that has resulted in changes this year — including a CEO shake-up. Disney’s stock prices have been volatile and declining throughout the year, and now we’re learning just have bad it really is.
Shortly after noon on December 29th, Disney’s stock price was at $87.79. One year ago on this date, Disney was selling for $154.87. That is a 43% decline in the value of Disney stock in the past year.
It’s also the second biggest loss in stock value in 50 years for The Walt Disney Company. The only year that was worse was 1974, when Disney stock lost 54% of its value, The Wall Street Journal reports.
Disney’s business in 1974 was heavily influenced by skyrocketing gas prices and a global recession — attendance at Disney’s theme parks dropped that year.
The release of Avatar: The Way of Water has fallen short of expectations, and that’s part of what’s driving the latest drops in Disney stock prices, according to Forbes.
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Do you own Disney stock? What do you think about its performance lately? Tell us in the comments!
The stock can continue to free Fall far as I am concerned, I hate it for the small investo, but Disney has been a total disappointment, totally lost Walt’s vision and has went against the traditional family and moral values, and I hope the majority of people reject Disney political views, let the consumer decide Disney’s fate. Parks have been neglected and quality has suffered, magic is gone, and I think that will be reflected more and more, as time goes on. We will see if Bob gets Disney on track and how the market responds.