As its fiscal third quarter nears its end, the Walt Disney Company continues its tumultuous stock price slide.
On Friday, June 10, Disney’s price dropped below $100/share, closing in the double digits for the first time in over two years.
Disney has unfortunately faced a steady slide for the entirety of its fiscal and actual 2022. Year to Date, the Mouse House is down 36.59%, and it has been down over 43% since June 10, 2021.
This news comes at the same time Walt Disney Co. CEO Bob Chapek made the sudden decision to fire Peter Rice as head of TV Content and replace him with Dana Walden. Rice is the second notable executive to leave Disney, following the reportedly mutual departure of Geoff Morrell as Disney’s Head of Corporate Affairs.
Speculation for Disney’s stock slide flutters around a series of suspects, including inflation, as well as the enduring closure of the and the multimonth closure of the . But it should be mentioned that Disney’s third quarter has included harsh criticism from politicians and lifelong fans over several directional decisions, including its open fight against Florida’s Parental Rights in Education Legislation and the admittance of a “not-at-all-secret” LGBTQ+ agenda being injected into new children’s programming. In reaction to this, many fans on social media have declared the end of their Disney Plus subscriptions and Walt Disney World Annual Passes. However, it is still unclear how many of those threats became a reality.
Disney is also veering into uncertainty regarding its icon, Mickey Mouse. The Company’s central figure is set to enter the public domain in 2024, and some politicians have already announced their intentions to make sure Disney cannot extend their protection of him any further. It is estimated that The Walt Disney Company earns $6 billion annually on Mickey Mouse alone.
We at Disney Fanatic will continue to update our readers on Disney news as more developments come to light.