Disney Stock Drops to Lowest Price in Over a Year

Matthew Soberman

Disney Stock Drops to Lowest Price in Over a Year

Amid their struggles with the Florida legislature, The Walt Disney Company’s stock price has tumbled dramatically, reaching its lowest price in over a year, according to The Epoch Times.

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As of the writing of this article, the price currently sits at roughly $119 per share, a far cry from its $200 per share price of March 2021. This marks a 17-month low for Disney’s stock price, its worst since late 2020. Back on Tuesday, the price was sitting at $131.90, but since then, both the Florida Senate and House of Representatives voted to dissolve the Reedy Creek Improvement District, which manages the land that Walt Disney World operates on, as well as provides municipal services like firefighters and waste management, with funding provided by Disney. On Friday, Governor Ron DeSantis has signed the bill into law, taking effect in June 2023.

It’s very likely Disney will fight against the law in court, as a statute enacted in 2015 ensures that a district cannot be dissolved unless a majority of residents vote in favor of it. Language in the bill claims that the new law can supersede the statute, though it’s unclear if that will hold up in court.

Read our breakdown of what may happen if the Reedy Creek Improvement District is dissolved.

The new law is in retaliation to Disney’s vocal opposition to the controversial Parental Rights in Education bill, commonly known as “Don’t Say Gay.” Disney has publicly stated that their goal is to have the law repealed.

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  • Matthew Soberman

    Matthew has been a writer for WDWNT since June 2018. He probably should have realized he was a Disney Parks fan when he tried to make a model of the Horizons building in middle school shop class. (It didn't go well.) He is also a huge Muppet fan, and can also be found on ToughPigs.com. You can email Matthew at matthew@wdwnt.com.

8 thoughts on “Disney Stock Drops to Lowest Price in Over a Year”

  1. The entire market is down nearly 1,000 points today. Singling out Disney as if it’s stock price drop is unique and then claiming it’s because of a political event is just the kind of dishonest framing one expects from the Epoch Times. Post hoc ergo propter hoc fallacy. Don’t repeat it here.

  2. Most of Disney’s stock drop has nothing to do with the legislation.

    Netflix is down more than 50% from it’s February high.
    Disney bet heavily on streaming and it helped their share price during the pandemic.
    Many people are cancelling subscriptions and traveling (seeing sites, to see family and friends again, etc). Airlines data starting in March shows air travel is back.

    Movies likely to take a hit too. We’re all tired of movies, streaming, shows, etc.

    Concerts, parties, sporting events, etc are where the profit will be.

  3. Those residents that have to vote to dissolve Reedy Creek are select people so every vote always falls in Disney’s favor. And not just matters of Reedy Creek

  4. Do you realize that it’s also possible that thr war with the Ukraine also the reason as stock prices have dropped around the world due to it.

  5. I’m curious if a legal fight would end in Disney’s favor. I believe Florida courts usually work in DeSantis’ favor, as just like the Florida House and Senate, they’re more conservative and this is a political thing.

    Never say never, as one would hope they are fair, but I’ve grown used to “The Gov” getting his way on things after a couple appeals.

    • The problem they would have in a Legal battle would be they violated the initial agreement they signed in 1967. It was for the original land Disney is on. When they bought Lake Buena Vista and Bay lake for all the resorts. At that time the agreement was voided based on the wording of the original agreement. So even if Disney could get this current bill overturned in court it would not matter they are in violate and would lose the special tax district anyways.

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