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Disney Stock Hits 18-Month Low After FL Votes to Terminate Special District

Disney Stock Price

The Walt Disney Company’s stock price hit another 52-week low and closed the business day near the lowest point it has been in 18 months.

Dropping to $121.28/share before stretching back up to end at $121.66, it is the lowest the stock has been since it was recorded at $121.25 on October 30, 2020. From that Halloween, Disney’s stock would skyrocket, hitting an all-time high of $197.16 in March 2021. But the stock’s value has been in decline ever since.

On April 20, experts reported that The Walt Disney Co. was the worst-performing Dow Jones stock of the year, down 31.5%.

A day later, it has only gotten worse. From April 21, 2021, to April 21, 2022, Disney is down 33.43%. That is a $61 drop in stock price. Year-to-date, Disney’s down 22.39%.

Disney Stock Price

Credit: Google

Disney’s stock performance has been so drastic this year that the 5-year growth is down to just 6%.

Disney Stock Price

Credit: Google

Meanwhile, Florida’s House of Representatives followed the State Senate’s lead in passing legislation that would terminate Disney’s special district. Founded at the request of Walt Disney and Roy O Disney, the Reedy Creek Improvement District offers the Mouse House a level of self-governance over the development and management of The Walt Disney World Resort unfelt by competitors like Universal Studios Orlando and SeaWorld Orlando.

Reedy Creek Improvement District Map

Credit:oppaga.fl.gov

The bill is expected to be signed shortly by Gov. Ron DeSantis. It is the lasted blow in an ongoing feud that arguably came to a head when The Burbank, California-based media conglomerate announced that it would actively use its money and influence to overturn the Sunshine State’s Parental Rights in Education Law, which prohibits education relating to sexual matters like orientation and gender identity in classrooms from Kindergarten through third grade.

DeSantis Disney

While there are some concerns regarding the handling of utilities, fire department services, and other “public” matters, there are a lot of questions left unanswered at this time as to what is going to happen if Gov. DeSantis signs the bill. But Disney would not start to lose their special privileges until June 2023.

Meanwhile, it should be mentioned that Hong Kong Disneyland Resort suffered a multi-year shutdown, and Shanghai Disney Resort also remains shuttered due to Covid-19 concerns.

We at Disney Fanatic will continue to monitor this story and will report back on more Disney developments as they come to light.

About T.K. Bosacki

Born and raised in Tampa, Florida, TK Bosacki is a professional writer, amateur adventurer, and lifelong Disney Fanatic. His Disney Park days include Space Mountain, Tower of Terror, Kilimanjaro Safaris, and Nomad Lounge. He believes in starting at the Canada pavilion (IYKYK), and the Monorail is superior to all Ferry Boats.

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