Disney has already faced a serious consequence after DeSantis signed the new law. Let us know your thoughts on what happened.
Florida vs. Disney Conflict
The state of Florida and Disney World have been in a heated match the last several weeks over House Bill 1557 – also called the Parental Rights in Education. You can read more about this in our story HERE.
The tension between Disney and the state of Florida escalated as state Republicans set their plans on repealing the Reedy Creek Improvement Act of 1967. Essentially, the law states that Disney is its own governing body within Orange and Osceola counties.
Reedy Creek Improvement Act of 1967
This Act allows Disney to make their own laws, zone their own land, and essentially do whatever they want within those limits. By stripping the company of those abilities, Disney would be regulated by Orange and Osceola Counties.
Emergency services would now be responsible for calls on Disney property. Disney would also have to seek approval for new attractions, restaurants, and hotels.
Both the Florida Senate and House met this week and both voted on the bill to dissolve the Reedy Creek district. Then, yesterday, Governor Ron DeSantis signed the bill into law repealing the Reedy Creek Improvement Act of 1967.
After the news spread through media sources yesterday, Disney faced an immediate financial consequence. Disney stock (DIS) hit the lowest price in over a year! Yesterday, April 22, Disney stock closed at $118. As you can see from the screenshot above, the 52-week stock price was $189.22. Do you think Disney stocks will rebound or continue to be low?
What are your thoughts on Disney stock prices decreasing after DeSantis signs bill to repeal the Reedy Creek Improvement Act of 1967? Do you think it will go back up or not? Please share your thoughts with us in the comments below and on Facebook.