The Walt Disney Co. is the worst performing stock in the Dow Jones Industrial Average for the past year, plummeting 31 percent in the last 12 months.
Of the 30 companies that comprise the Dow, Disney has seen its stock drop the most on a percentage basis, followed by 3M, which is down 25 percent, and Home Depot, down 23 percent.
Disney is now the worst performing Dow stock over the past year — down 31.5%.$DIS pic.twitter.com/nLDcSUJLJP
— Carl Quintanilla (@carlquintanilla) April 20, 2022
Disney shares were down more than 5 percent Wednesday as investors remained skittish on streaming entertainment companies following Netflix’s disastrous first quarter results. Disney+ subscription results recently disappointed Wall Street when the company reported quarterly results in November, causing the stock to tumble.
The Mouse House also faces difficulties in Florida, where the state senate voted on Wednesday to pass a measure that would deprive Disney World in Orlando of its self-governing status.
.@GovRonDeSantis: FL Lawmakers to Consider Eliminating Disney's Special Tax and Governing Jurisdiction pic.twitter.com/ReiIykeJiU
— Breitbart News (@BreitbartNews) April 20, 2022
The bill now moves to the Florida House, which is expected to pass it and send it to the desk of Gov. Ron DeSantis (R), who has publicly pushed the legislature to pass the bill.
Disney’s free fall comes as the company has embraced woke, far-left politics, specifically the exposure of young children to radical LGBTQ ideology. In so doing, the entertainment giant has alienated millions of customers and picked a fight with Florida GOP leaders.
Recently leaked internal videos show Disney executives and creative leaders openly advocating for promoting a gay and transgender agenda in the company’s entertainment for young children. The leaks came shortly after Disney declared war on Florida’s Parental Rights in Education law, which bans the teaching of sexual and gender ideology to children in kindergarten through third grade.
Disney CEO Bob Chapek caved to pressure from a small group of employees who demanded the company abandon its neutral position on the Florida legislation and fully embrace LGBTQ activism.
Gov. DeSantis has fought back by putting Disney’s special privileges under review. They include Disney World’s self-governing district, a 25,000-acre area known as the Reedy Creek Improvement District, where the company has wide latitude to govern itself and develop the land without government approval.
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