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Not every die-hard Disney fan follows the stock market or pays close attention to the Walt Disney stock price. But it’s essential for the future of the company…and may dictate what CEO Bob Iger does and how long he stays.
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A New Low
Today (August 24), Walt Disney stock dropped to a 52-week low of $82.47. When Disney CEO Bob Iger made his big return last year, many expected The Walt Disney Company stock to soar. However, it seems like much of Bob Iger’s magic has faded. Although Bob Chapek made many decisions that some considered controversial and many choices that hurt the company’s bottom line, one cannot blame the entire Disney stock of the company one man. That would be like blaming every problem in the country on one political figure or president. And no one does that, right?
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Bob Iger
As much as everyone loves to beat up on Bob Chapek, much of what he is blamed for was started (or happened) under Disney CEO Bob Iger’s watch. Unpopular elements in the parks, such as charging for Disney Genie+, theme park price increases, and Disney park reservations, happened before Bob Chapek even stepped into the CEO position. In addition, Bob Iger was the man at the top who greenlit many of Walt Disney Studio’s box office failures, such as Lightyear (2022) and Indiana Jones and the Dial of Destiny (2023).
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And Bob Iger has done little to nothing to try and patch up the relationship with Governor Ron DeSantis or the Florida legislature. Regardless of anyone’s opinion on the Governor’s policies or positions, the Walt Disney Company has to maintain a relationship with the state where Walt Disney World Resort is located. It’s inconvenient, but besides the impossible task of boxing up all four theme parks and all the hotels into a U-haul and moving to another state, there aren’t many other options.
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Disney CEO Bob Iger has also made many missteps since his return, putting him in the crosshairs of SAG-ATRA leaders and commenting about selling off pieces of the Walt Disney Company, unsettling many cast members. If the stock price remains at – or lower – than it was the day that Bob Chapek was booted from office, it begs the question, what is Bob Iger planning to do? Will he get pushed out like Bob Chapek was?
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What Now?
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The Disney stock 52-week low was previously $84.07. And not that long ago, Disney shares were soaring at over $200. There is pressure on Bob Iger to do something different. Whether that’s massive expansion at the Disney parks, acquiring new IPs (intellectual properties) for films, or a new strategy for Disney Plus streaming – its current situation is not sustainable.
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Otherwise, the company may have to do some serious downsizing, including more layoffs and canceled projects.
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Hopefully, Bob Iger can figure something out – if not – maybe it’s time for someone else to come aboard. The lower the Disney stock price falls, the harder it will be to raise it back up.
