Disney is poised to rank among the worst-performing stocks in 2022 after the company became embroiled in a high-profile political controversy.
The stock reached an all-time high in March 2021, trading at nearly $200 per share. But it has been in free fall ever since. As the market closed Thursday, the stock was hovering near $120 per share – down roughly 33% from a year ago.
The company has been in the spotlight in recent weeks after it publicly opposed a bill Republican Florida Gov. Ron DeSantis signed that prohibits classroom instruction on "sexual orientation" and "gender identity" with children in third grade or younger "or in a manner that is not age-appropriate or developmentally appropriate for students in accordance with state standards.
The Florida House of Representatives passed a bill Thursday that would dissolve Walt Disney’s special governing power in the state, a move that could have huge tax implications for Disney, one of the state’s largest private employers with more than 60,000 workers. The bill now heads to DeSantis’ desk.
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DeSantis moves to strip Disney carve-out from Florida anti-Big Tech lawRepublican Gov. Ron DeSantis of Florida announced Tuesday that his party intends to end a special carve-out for Disney in a recently passed anti-censorship social media law.
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Years of fruitful relations between Disney, Florida at riskThe idea was presented to Florida lawmakers in a movie house outside Orlando 55 years ago: Let Disney form its own government and in exchange it would create a futuristic city of tomorrow.
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Florida Senate Passes Bill to End Disney Self-GovernmentThe Florida Senate has passed a bill to repeal a law allowing Walt Disney World to operate a private government over its properties in the state
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Florida Senate passes bill to end Disney self-governmentThe Florida Senate has passed a bill to repeal a law allowing Walt Disney World to operate a private government over its properties in the state.
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Florida Senate passes bill to end Disney self-governmentThe proposal could have huge tax implications for Disney, whose series of theme parks have over the decades transformed Orlando into one of the world's most popular tourist destinations.
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Florida Legislature votes to strip Disney self-governmentTALLAHASSEE, Fla. (AP) — The Florida House of Representatives on Thursday gave final passage to a bill that would dissolve Walt Disney World's private government, handing Republican Gov. Ron DeSantis a victory in his feud with the entertainment giant over its opposition to a measure that critics have dubbed the “ Don’t Say Gay ” law.
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