The Walt Disney Company’s stock ($DIS) reached a fresh 52-week low today and closed at a nearly nine-year low.
What’s Happening:
- Today, $DIS fell to a new 52-week low of $82.46.
- The stock ended the regular trading day a penny better ($82.47) — but still down 3.91%.
- As Marketwatch notes, this is the first time since 2014 that shares closed lower than $84.
- In contrast, Disney’s 52-week high stands at $118.37. Its current price is also less than half of the historical highs reached in spring 2021 when the stock neared the $200 mark.
- Meanwhile, NBC Universal parent company Comcast’s stock was only down slightly today (-0.48%). Warner Bros. Discovery was flat.
- However, similar to Disney, Netflix also saw a challenging day, falling 4.82% (-$20.62).
- Disney recently announced its Q3 FY 2023 earnings that saw the company miss on revenue expectations but beat the street on earnings per share.