This past weekend was the D23 Expo, and usually, the announcements for films, shows, and theme park attractions bring increased confidence in the Walt Disney Company stock, but it’s still down.
At the close of trading on Monday, Disney stock was sitting below $86.
All the announcements about upcoming Marvel and Pixar films did little to bolster confidence, even after the company had two back-to-back $1 billion+ box office releases with “Inside Out 2” and “Deadpool & Wolverine.”
Teasers for upcoming shows and films were played at the event, and some trailers were released, but these did little to boost share prices.
Entertainment announcements on Saturday night about Fortnite, theme parks, and cruise line announcements were plentiful but did not improve the stock either.
Disney announced upcoming additions to Walt Disney World and Disneyland and four new cruise ships, yet investors are not impressed.
Most of these “improvements” are still years away and will cost even more money, especially four new cruise ships on top of the remaining ships Disney has under construction now.
13 ships sounds good on paper, and Bob Iger talks about the “strong demand” for bookings. But will that continue if there are twice as many ships, or will the demand go down as the supply goes up?
It is fair to note that the stock market has been down a bit overall, but Disney’s stock is not rebounding.
In the past month, Disney stock has dropped from over $98 to under $86. In the past four months, the stock went from a high of almost $123 to under $86. The peak hit when there was a threat of a proxy battle, and Nelson Peltz might get a seat on the board. As soon as it was clear, Peltz wouldn’t gain a seat, the stock price dropped and has continued to do so.
Hopefully, the stock will start picking back up soon, but the mixed reception to recent announcements and the impending costs associated with them might be stalling it out even more.
What do you think? Comment and let us know!
Pirates & Princesses (TM) (Stylized as PNP) is an independent, opinionated News and Information site focused on Travel, Entertainment, Fashion, the “Geek Girl” Lifestyle, and more. We focus heavily on Walt Disney World, Disneyland, Universal Orlando Resort, and other themed entertainment and travel destinations. Our news staff includes former theme park and entertainment industry employees, journalists and dedicated pop culture and theme park enthusiasts. Opinions expressed by contributors do not necessarily reflect the views of this site, our affiliates or our sponsors.