Things aren’t looking great for Mickey or the Walt Disney Corporation, as shareholders are evidently less than pleased with CEO Bob Chapek’s picking a fight with Florida Governor Ron DeSantis, the company’s pressing of gayness into the new Buzz Lightyear movie, and the dire financial implications of Disney losing its special tax status in the Sunshine State.
In fact, whether because of anger with the company or worry that its push for wokeness rather than profits will end poorly, shareholders have ditched the company in droves, leading to a massive sell-off in the company’s stock.
RedState, reporting on that massive sell-off, points out that Disney’s value has almost halved this year, saying:
“Disney stock has plummeted nearly 50 percent as their political-infused productions continue to turn away audiences and garner angry fan reactions.”
Indeed; Disney’s share price has, as of the writing of this article, dropped from $175 about 12 months ago to about $92 today [having since recovered to $106], a massive drop for such a large company with so many business segments.
In fact, after the 46% plummet in its market capitalization, Disney is now worth “only” $168.96 billion, down tremendously from its $357 billion peak in March of 2021.
Was it worth the gay kiss scene and defending groomer teachers in Florida?
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Breitbart’s Nolte, describing the reasons for that collapse, notes that Disney has effectively destroyed its once great brands with wokeness, ruining Star Wars with wokeness, Toy Story with gayness, and the Disney name with a defense of groomer teachers, saying:
What Disney has done is like Skippy putting dog poop in its peanut butter, like tofu putting meat in its tofu, like Charmin putting sandpaper in its toilet paper….
By openly embracing child grooming, Disney has imploded everything the Disney brand stands for. This company is no longer a safe bet. Instead, it has betrayed itself and its customer base: normal, everyday, American families—you know, the 99 percent of families who would never expose a small child to a drag queen.
Allow me to put it this way… When Disney can’t open the latest chapter of its most iconic animated franchise — Toy Story — it’s all over. Disney’s woketardery has already destroyed Star Wars as a film franchise, and the Marvel Cinematic Universe has been hit (Dr. Strange 2) and miss (The Eternals).
What might be most important there from the stock perspective is that Nolte describes Disney as “no longer a safe bet”. Investors had Disney in their portfolios, if they held it at all, because they thought it would use its substantial revenues to grow steadily if moderately while paying a good dividend and remaining a safe stock.
Not now. Now Disney could recover, but could also stew in the just desserts of its inveterate wokeness, crippled by investor avoidance of a company that markets to kids while defending those characterized by nearly half the country as child predators, which hardly seems a responsible financial decision, much less a safe one when investors are viewing the company.
And so it’s been sold off, with investors teaching the woke company and its “leadership” team what they think of wokeness.
Featured image: Jrobertiko, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons