Some of the people most nervous about the Florida Legislature’s assault on the Walt Disney Co. may be its shareholders.
CNBC reporter Carl Quintanilla reported on Wednesday that Disney’s stock price has tanked.
“Disney is now the worst performing Dow stock over the past year — down 31.5%,” he tweeted.
Even CNN acknowledged that “The magic is gone for Disney investors.” In its report, the network noted, “It’s clear that Wall Street is not happy with how Disney has performed since [CEO Bob] Chapek took over from [Bob] Iger in February 2020.
Disney shares are now hovering near their lowest levels since November 2020.”
CNN asserted that Disney’s woes stem from rising inflation and massive competition among streaming services, as well as COVID, which dampened turnout at movies and Disney’s theme parks. Yet CNN noted it was “up for debate” whether Disney’s brawl with Florida Republican Gov. Ron DeSantis and the GOP-led Legislature had also hurt its fiscal performance.
Meanwhile, conservative journalist Christopher Rufo tweeted on Wednesday that “Disney has lost more than $20 billion in shareholder value since the release of internal videos exposing the company’s plan to embed gender ideology into its children’s programming. It’s a strong opening shot against woke capital—and there is more to come.”
But it’s not just the self-admissions from Disney’s staff about its pro-LGBT agenda and blatant efforts to inject that into children’s programming that have stockholders abandoning Disney.
Rufo and other journalists have lifted the veil on the bad tidings at “the happiest place on Earth.”
Last month, for example, Rufo penned a piece noting, “In recent weeks, the company has entered the political debate about Florida’s Parental Rights in Education legislation and sought to establish itself as a moral arbiter on children’s education and sexuality.
But behind its meticulously curated self-image, Disney has had a long-standing problem with child predators gaining employment within the company and exploiting minors. In 2014, reporters at CNN published a bombshell six-month investigation that discovered at least 35 Disney employees had been arrested for sex crimes against children.”
Disney’s political barometer was so off on Florida’s Parental Rights in Education law, which prohibits school districts and classroom teachers from implementing lesson plans based on sexual orientation and gender identity to K-3 students, that it finds itself opposite 55 percent of Democrats by opposing the law.
Conservative commentator Ben Shapiro offered some advice to Disney on how to rescue its stock price and shareholders.
“Corporations have an interest in lobbying on issues that directly impact their business. If they choose to engage in politics outside their purview, they will be treated with all the aggression inherent to the political sphere, and they will deserve it,” he tweeted Thursday.
“Go apolitical again, and we’ll all be happy to go back to business. Turn into a propaganda and lobbying wing for the most radical activists, and be treated in kind.”