Though stock for The Walt Disney Company jumped to over $100 when Bob Iger took back the position of CEO, it is now dropping once again.
Disney stock is already lower than it was on Chapek’s last day when it closed at $91.80. It closed at $84.16 yesterday, December 28, the lowest it’s been since October 2014, before the release of “Star Wars: The Force Awakens.”
Stock has risen slightly today and was at approximately $87.83 at 11:25 a.m.
Many analysts are recommending people sell their stock now, not just because it may drop lower, but also for tax loss harvesting. Investors who sell their stock at a significant loss will get a higher tax deduction later this year.
The highest stock price Disney ever traded was $201.91 on March 18, 2021, when Chapek was CEO but Iger was executive chairman and handling some CEO duties. As Seeking Alpha points out, Iger is unlikely to more than double Disney’s stock price back up to $200 during his two-year contract.
Will you be selling your Disney stock or holding onto it for longer? Let us know in the comments.
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I am in it for the long haul
…duh, “buy low”
I would ditch it. Mainly, because the CEO’s have been on a mission to turn the product into a massive money grab. They, the CEO’s have bailed completely on the theme parks. Eg. firing over half of their employees. Turning even the food in the theme parks into a terrifying chance. If food poisoning is a possibility. All for the sake of fattening their wallets. The prices of everything keeps going up, and the quality keps going down and further down each and every year. The soul of Disney is DEAD. And, pricing the product for only the 1 percenters is going to kill off the body completely. Dump your stock. Or, lose your investment. The CEO’s don’t care. They got their wallets fattened. And, you fools don’t matter.
Which analysts recommend selling? Yes a tax harvest loss may be in your cards but your deduction is limited to 3k a year unless you can offset capital gains specifically. Majority of us have no gains for the year. Parks are packed, and profiting far more than 8 years ago. Avatar 2 is about cross a billion. There are far more bull than cases here.
The people who want you to sell right now are the people who want to buy the stock that you sell at fire sale prices right now. I an hanging in. There is no way that DIS is going bankrupt, so I will not lose anymore than I would by selling now.
DIS has problems. Their media strategies have not panned out so far. Everybody is done with ESPN, Disney+ is not producing profit yet and the ground under all subscription/cable services is moving quickly under them. They haven’t found a solution solid footing there. Their film offerings have been meh, and in my opinion, they need to rethink the whole emphasis on the Marvel and Star Wars films. How about basic good stories and less special effects?
The parks are a different story. They are switching from a “come one, come all” business model with its inherent problems of crowding, staffing, and degraded customer experience to a more controlled environment where customers are forced to plan their day in advance rather than just show up. Not sure that they have the proper approach yet, but they will figure it out. DIS has had problems before and worked through them. They will do it again