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.
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Iger coming back was incouraging. But he actually has to do something positive for the company.
Certain behaviors have led us to believe Iger will be doing more or less the same as before, and people are quicker to realize even more now. During this period of time Iger is under an even more magnified watch than ever, and if they don’t make any drastically positive changes soon, I don’t see their stock improving.
This is good to see, while Iger is certainly better qualified, and much more respected, the fans are not seeing the roll back of so many bad decisions.
The trick is, Iger believes in a lot of these changes, not all, but a lot, and if the fans let him and the Disney board get away with it’s politically questionable changes, Disney will continue to degrade itself from a world renowned vacation place, and continue moving itself towards the political spectrum.
The Disney board did not do these changes on a whim, this was a calculated long term plan, bring in Chapek, make some big, unpopular changes, throw him under the bus if it didn’t go well, bring back Iger as a stop gap, but not do a full turn around, and then after some dust settles, put in a new non centered CEO. The loyal fans need to keep on the pressure.
It won’t be the last drop. “Disney woke to the last drop.”
Ladies and gentlemen, boys and girls.