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Following Bob Iger’s Contract Extension, Disney Stock is Tumbling Towards a One-Year Low

Disney stock falls bob iger
Credit: Disney and Canva

All is not well for the Walt Disney Company.

When it comes to the world of entertainment, few names hold as much power and influence as the Walt Disney Company. As the epitome of family-friendly content and beloved characters, the Walt Disney Company has become synonymous with magic. In the past, Disney stock has provided investors with an exciting opportunity to side with the entertainment giant.

Now, things are not looking so enchanting.

RELATED: Disney Stocks Soar as Analyst Claims “The Magic Is Back”

The Walt Disney Company

Credit: Disney

A Tough Year for the Walt Disney Company

There is no doubt about it: 2023 has been a tumultuous year for the Walt Disney Company. This can mainly be credited to the significant transition of power that happened before the year’s start when CEO Bob Iger came back and replaced Bob Chapek. Since then, Iger has been tasked with the onerous duty of turning around Disney’s financial situation and setting the company up for future success in the ever-shifting landscape of streaming. 

While many supporters strongly believe in Iger’s ability to set Disney straight, other investors don’t feel so solid. This uncertainty has been reflected in Disney’s stock market performance this year.

storm castle

Credit: Disney and Canva

DIS Nearly Hits a 52-Week Low

This Monday, Disney (DIS) stock hit -3.22%, valuing the stock at $87.32. The previous low for DIS was on December 28, when the stock was valued at $84.17. According to experts on the subject, Disney may be falling toward the dreaded $83.83 mark, which would be the lowest closing for Disney since 2014.

Bob Iger Bad Stock

Credit: Disney and Canva

Low stock performance is never good, but this is especially significant due to the recent announcement that Disney CEO Bob Iger was extending his contract through 2026. Seeing DIS fall doesn’t exactly make it seem like investors are thrilled with this announcement. Also playing a part in all of this is the strike with Hollywood’s writing and acting unions. Bob Iger’s comments on the situation have drawn criticism from the public, and production has been halted on all current projects. This week, the world will closely be watching the stock market performance of DIS to see how much further it may fall.

About Eva Miller

Eva was born and raised in the beautiful state of Oregon but has since relocated and lives in New York City. Since she was young, Eva has loved to perform in musicals, especially Disney ones! Through performing, Disney’s music became the soundtrack of her childhood. Today, Eva loves to write about all the exciting happenings for the Walt Disney Company. In her free time, Eva loves to travel, spend time in nature, and go to Broadway shows. Her favorite Disney movie is 'Lilo and Stitch,' and her favorite Park is Disney's Animal Kingdom.