The Walt Disney Company’s stock extended its precipitous fall this week, falling 9% to settle at $99.40 on Friday, the first time the company has closed below $100 in more than two years.
Following a big shake-up in the company’s executive offices, Disney shares have taken a huge hit this week. CEO Bob Chapek abruptly fired his chosen successor, Peter Rice, last Thursday, shocking the entertainment industry and leaving Disney employees in disbelief. Disney’s stock has dropped 37 percent this year, making it the Dow Jones Industrial Average’s worst performance.
It was back in April 2020, Disney shares fell below $100 the first time.
It would appear that the Magic Kingdom (or as Breitbart calls it “Tragic Kingdom”) is still recovering from its battle with Florida Gov. Ron DeSantis over the state’s Parental Rights in Education law, which prohibits the teaching of sexuality and gender ideology to children in kindergarten through third grade, including transgenderism.