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.
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.
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.
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.