Stock for The Walt Disney Company dropped all the way to $100.08 today, May 20, 2022. At the close of the market, it stood at $102.42. It previously closed at $103.15.
Last month, the stock hit $119, already the lowest it had been in over a year. The stock eventually dropped to $104.79, before it began to slowly rise after the company’s 2022 second quarter earnings call. Disney’s stock peaked last year at $201.91 on March 8, 2021 before settling around the $170-180 range between June and November. Since November, Disney’s stock has slowly slipped over time, save for a couple of short jumps in value.
Disney posted $19.2 billion in total revenue for Q2, with $6.7 billion from the Parks, Experiences and Products division.
It seems the second quarter results were not enough though, as the stock has begun to sink once again.
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The thing is that stock goes up and down all the time so I don’t think it’s all Chapek’s fault.
Think again
The stock market is an indicator of anticipated future performance. People are no longer stuck in their homes streaming content and the world continues to open back up and people have more options for recreational travel.
The business we see in the parks today was based off past conditions as Disney trips are often booked very well in advance. Disney policy and actions across the board and the looming economic meltdown definitely risk their profits as they are in a space that relies solely on discretionary spending.
You are spot on. We are finally taking our May 2020 trip (re-booked a total of 4 times due to COVID and mask mandates) this upcoming November. It is already paid for (back in 2020), and it will be our last time at Disney for obvious reasons.