Walt Disney Company New Losses Total $123 Billion in 2022 and a 44% Stock Drop. 2022 has turned into Disney and the Terrible Horrible No Good Very Bad Year. Don’t fret too much though, this wasn’t the worst year ever, just the second worst year ever. There were some positives to take away. Even if you have to look really deep into the well to find them.
In 1974, Disney shares dropped 54%, which marks the worst year for the mega-corporation. Not only was this the second worst in Disney’s history, but also the second worst drop of any company for the 2022 year that was. $123 billion of its market value evaporated in 2022.
Even though Parks like Walt Disney World and Disneyland did better than expected and broke record profits, other portions of The Walt Disney Company failed miserably, with a huge sell-off in the 4th-Quater due to lower-than-expected profit, which led to the firing of Bob Chapek as Disney CEO.
Even the rehiring of Bob Iger as Disney CEO is not helping matters at all. Nor is the successful run of Avatar The Way of Water at the Box Office this holiday season. Disney Stocks have not rebounded, except for the first few days after the Bob -vs- Bob Saga started.
People are blaming the “Wokeness” of Disney and the major fight with Gov. Ron DeSantis over the “Don’t Say Gay Bill”, but that cannot actually be established as a root cause. If that were the case Disney World Parks would be suffering. Box Office receipts have also been down drastically for the year also, which again isn’t the main issue.
Could it be a market correction as the whole market has been headed down? As for anything more political than that, we are nowhere close to being able to judge that. We are a Disney Blog and not The Wall Street Journal.
Walt Disney Company New Losses
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