Have you noticed how quiet Woke Disney has been since the all the noise came out about the Alito Supreme Court decision on Roe V. Wade? After the Florida parental right’s bill, Woke Disney tried to battle Ron DeSantis and parents who supported the bill. It caused backlash, drops in stock prices and boycotts. Today, Disney stock is hovering around $100-102 per share. That’s a 40% drop from the peak price Disney hit last fall. Gee, you think going woke is a bad business model? That’s why they have been silent on the abortion noise.
Shares of Disney (DIS -2.79%) were pulling back last month as a combination of factors weighed on the entertainment giant. Among them were a disastrous first-quarter earnings report from streaming rival Netflix (NFLX 1.51%), a broader pullback on the market on concerns about inflation and a potential recession, and a brewing political backlash in Florida where Gov. Ron DeSantis dissolved the special jurisdiction, Reedy Creek, that is home to the Walt Disney World complex.
By the end of the month, Disney stock had fallen 19%, according to data from S&P Global Market Intelligence, down roughly 40% from its peak last fall.