The Walt Disney Company’s stock slump continues as $DIS threatens to fall below $80.
What’s Happening:
- Today, September 7th, $DIS fell to another new intra-trading day 52-week low of $79.75 (as of 11:50 a.m. ET).
- This comes on the heels of the stock reaching other unfortunate milestones including previous 52-week lows and its worst closing price since 2014.
- Shares of $DIS did recover some, closing at $80.57 today (down 0.49%).
- In contrast, the company’s 52-week high is currently $118.18.
- While it’s hard to pinpoint what exactly is dragging share prices down, Disney is currently engaged in a high-profile showdown with Charter/Spectrum that has led the cable provider to pull Disney-owned channels.
- Additionally, Comcast has moved up the timeframe for discussions regarding Disney purchasing the final piece of Hulu. Originally planned for 2024, they are now set for later this month.
- Speaking of Comcast, their stock is actually up slightly for the day so far. Warner Bros. Discovery is currently down 5% and Netflix is off 1%.