Disney Stock Closes at Lowest Price in Nearly a Decade

After we reported Disney stock was at a 52-week-low, the stock price continued to drop and The Walt Disney Company (DIS) closed on Thursday, August 24 at $82.47 per share. This is Disney’s lowest closing price in nine years.

Disney Stock Closes on Disappointing Note

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This is the lowest price Disney has closed at since October 16, 2014, when it closed at a record $81.74.

Disney stock has dropped significantly over the past few years, especially during the height of the COVID-19 pandemic and Bob Chapek’s tenure as CEO. On March 23, 2020 it closed at $85.76. Disney’s all-time high closing price was on March 8, 2021, at $201.91.

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When Bob Iger returned to the position, the stock shot back up to over $100, but later started to drop again. In May 2023, it was down to $92.28, seeing a 9% decline.

According to Deadline and official reports from The Walt Disney Company, a mixed third quarter for 2023 has seen some success, reduced losses, and a few disappointments overall.

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Direct-to-consumer losses shrank while Parks and Resorts revenue rose compared with the previous quarter. While Disneyland Resort and Walt Disney World Resort did not have stand-out performances, the heightened revenue was assisted by the international parks and Disney Cruise Line. Overall, Parks & Resorts are up 13% — 94% internationally and 4% domestically (mostly attributable to Disneyland).

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The total third quarter company revenue of $22.3 billion is a slight decrease of 2%, slightly shy of forecasts. Disney’s revenues for their direct-to-consumer products — Disney+, Hulu, and ESPN+ — increased by 9 percent to $5.5 billion dollars, though their operating loss nearly broke even. Disney+ subscribers have dropped to 146.1 million, below the 154.8 million goal, though core members of the service rose by 1 percent.

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