Disney’s stock price has been hammered.
A report by The Washington Free Beacon states thatthe House of Mouse’s stock price has steadily declined since the feud with Florida Governor Ron DeSantis regarding his Parental Rights in Education Act, also known as “Don’t Say Gay”.
The Free Beacon
By The Numbers: Disney’s stock traded at $133.65 when Chapek claimed that DeSantis was promoting legislation which would “unfairly” target gay, lesbians, nonbinary and transgender children and families. Disney shares opened on Wednesday at $89,44, and continued to drop ahead of DeSantis’s formal entry in the 2024 presidential race.
This is a drop of 33,1 percent over a period of just 14 months.
Disney announced on Wednesday that it would be laying off more than 2,500 workers in order to save money.
* DeSantis won a second term in November 2022 with a margin of 19,4 percentage points.
DeSantis told his supporters at a recent event that he is committed to the fight. “I am not going back an inch”, the governor declared.
DeSantis is currently in jail and Disney is also behind bars. But the judge had to recently recuse himself. U.S. District Chief Judge Mark Walker is related to someone with financial interests in Disney.
Walker wrote that he disqualified himself in a 14 page order. “Even if I think it’s highly unlikely that this proceeding will have any significant effect on The Walt Disney Company,” he wrote. Maintaining public confidence in the judiciary, now perhaps more than any other time in our history, is of paramount importance.
The Free Beacon has more information:
Disney stock down 33 percent since CEO instigated feud with DeSantis
Washington Free Beacon May 24th, 2023