Though The Walt Disney Company’s stock price rose over $100 immediately after the reinstatement of Bob Iger as CEO, it has not remained steady since then. It began dropping in early December, but a month later, it has risen back up to over $92.
Only a week ago, Disney stock closed at $84.16, the lowest it has been since October 2014. As of 12:14 p.m. today, January 4, it is at $92.18. It closed at $88.99 yesterday.
Today’s stock is back up above what it closed at on Bob Chapek’s final day as CEO: $91.80.
Analysts recently recommended shareholders sell, although the stock price is low, because they could take advantage of 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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