Ever since Disney announced that Bob Iger would be returning as the company’s CEO, the stock ($DIS) price has soared. This week, we saw the first drastic drop in the stock price.
When Iger stepped back into the role of CEO, Disney stock spiked to $99.43. Disney hit a low of $91.61 on Wednesday, and has recovered to about $93.38 as of close today. That’s very close to the price in the last days of former CEO Bob Chapek’s reign.
The fact that the price spike hasn’t lasted is suggestive that any bump investors might have expected from Iger’s return may be short lived.