The Walt Disney Company is on a losing streak as it enters the final months of 2023, with its shares way down as it battles a non-stop series of bad new cycles that have hammered investor confidence in the once formidable studio. For the last 12 months, the stock has plummeted 27 percent.
Disney shares are down nearly 9 percent for the year so far, and are off 28 percent from 2023’s high in February. Going back further, Disney is down a stunning 60.1 percent from its pandemic-era high of $201.91, which was reached in March 2021, according to a Marketwatch report.
Any way you cut it, Disney stock is in the dumps and investors are unhappy. There is even fear that shares could sink below $80 for the first time in nearly a decade.
As Breitbart News reported, the company is facing a lawsuit accusing management of deliberately deceiving investors about the financial health and long-term prognosis of Disney+. This is the third such suit Disney is facing from irate investors who allege the company has been less than honest about its streaming figures.
Disney recently saw its stock’s target price slashed by an analyst who cited the company’s numerous problems, including an unprecedented string of box-office flops and continued streaming losses that amount to hundreds of millions of dollars a quarter.
Like other legacy studios, Disney is betting the farm on streaming entertainment in the hopes of turning fans into lifelong paying subscribers. But streaming is fast turning into a digital money pit as studios are keep pumping out content that is flopping with viewers,
The situation at Disney is apparently so dire that CEO Bob Iger is planning to sell off many of its TV properties as traditional cable TV is no longer the cash cow it once was due to consumers cutting the cord in droves.
Disney’s bad news parade also includes its decision to push the radical LGBTQ agenda on children — both in its entertainment as well as politically in Florida, where it is still mired in lawsuits with Gov. Ron DeSantis (R).
Follow David Ng on Twitter @HeyItsDavidNg. Have a tip? Contact me at dng@breitbart.com
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