Disney Sinks To New ‘Woke’ Low, Stock Tumbles
Story by Matt McBride •
13h
Disney stock tumbled to below $84 for the first time since 2014, and fell to an even lower $82.57 the morning of August 25th after its release of its dismal quarterly earnings report.
The earnings report shows that US and Canadian subscriptions to its streaming service Disney+ had not just fallen by 300,000 subscriptions, but had dropped a staggering 24% overall after its deal with India’s Hotstar, that country’s largest online streaming service. Disney has also experienced a string of box office flops that has lost the company almost $1 billion.
The 9-year low is a far cry from its peak of $197 per share on March 12, 2021. Since that day, the per share stock value in the entertainment giant has dropped a staggering 58%.
The beginning of the dramatic drop in Disney’s stock price on that day occurred the same week as when the company expressed its opposition to the signing into law of Florida’s Parental Rights in Education Act. Often derided in the media as the “Don’t Say Gay” law, Wikipedia says the Act prohibits classroom discussion or classroom instruction on gender identity or sexual orientation is from kindergarten to 3rd grade, and allows restrictions on those topics from 4th to 12th grades when it is not deemed to be either “age appropriate” or “developmentally appropriate.” Proponents of the law say that discussion of sexual behaviors and gender identity should belong between supervising parents and their children, and not be a matter of classroom discussion.
https://www.msn.com/en-us/money/companies/disney-sinks-to-new-woke-low-stock-tumbles/ar-AA1g0K0Q?ocid=msedgdhp&pc=U531&cvid=972cc4a652ce4958be1850a222dcf161&ei=36
