Disney stock falls by a third since going to war with DeSantis

What happened: On March 9, 2022, former Disney CEO Bob Chapek attacked Gov. Ron DeSantis (R., Fla.) for supporting the Parental Rights in Education bill, instigating a feud with the popular governor that persists to this day. Since then, Disney’s stock price has lost a third of its value.

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By the numbers: Disney stock was trading at $133.65 a share when Chapek accused DeSantis of promoting legislation that would “unfairly target gay, lesbian, nonbinary, and transgender kids and families.” Disney shares opened at $89.44 and continued to fall on Wednesday ahead of DeSantis’s formal entry into the 2024 presidential campaign.

• That’s a decline of 33.1 percent in a little over 14 months.

[That’s attributable to several factors, so it’s not as cut-and-dried as it is with AB-InBev with Bud Light and with Target over its satanist partnership. But their financial fortunes are tied to a degree to their massive fixed investment in Florida, and that has to be related to some degree to the market value decrease. — Ed]

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