It’s been a rocky few weeks for Disney stock. However, there is good news that comes right on the heels of Disney’s announcement that Iger is back as CEO.
The recent Disney (DIS) quarterly earnings report came in with a giant thud as the corporation reported huge losses in key areas. Earlier this month, Disney stock dropped more than 12% in a single day. Year to date, DIS stock dropped nearly 44%.
CEO Bob Iger was beloved by Wall Street as he used acquisition strategy to purchase businesses that included Pixar, Marvel and Star Wars. Under his leadership, the company’s stock grew from around $23 per share to more than $150 per share.
However, stock has not done well with Chapek at the helm. In fact, many analysts even called for the firing of Chapek. Shareholders will be happy to see Disney stock is doing better since the news of his firing broke.
Stock was at less than $92 per share when the market closed on Friday, November 18. This morning, November 21, stock shot up to approximately $99 per share. This is on par with numbers from earlier this month.
Are we on an upward trend with the new (old) CEO? Many are remarking that this level of optimism for the company has not been reached since before Iger originally left the position in early 2020. Investors appear optimistic about the changes the company will undergo as Iger develops a new successor to replace him in two years.
Disney stock is up several dollars per share after news of Bob Chapek’s firing broke.
However, it still does have a way to go until it catches up with numbers from earlier this year. Numbers were $156 back in early January. Hopefully, the company will rebound and create some more profit in the coming months.
Are you a shareholder? What do you think of today’s numbers? Let us know in the comments below and on Facebook.