Disney Stock Drops as New Disney+ Subscription Rate Slows
Despite the recent addition of new series like “Loki” and Marvel’s “What If…?”, Disney+ subscription rates are slowing. The slowing demand has caused Disney stock (NYSE:DIS) to drop. The stock closed at $171.41, down 3.01% today.
According to a release from Schaeffer’s Investment Research, Inc., Barclays downgraded Disney stock, cutting its target price to $175 from $210. The firm added that Disney is now behind its goal of reaching 150 million Disney+ subscribers by 2024.
The Barclays downgrade is a break from normally bullish attitudes towards Disney stock.
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