Disney stocks have tumbled so far in 2022 as the company waded into Florida’s political arena while Republicans in the state voted to revoke the firm’s self-governing status in the central portion of the state.
The stock hit all-time highs in March 2021, trading at $200 per share. But since then, it’s dropped more than a third to about $119 per share as of April 22, putting the media conglomerate on track to its lowest close in 17 months. As of April 19, Disney’s stock reached $131.90 but since then, it’s dropped more than $12 per share as of Friday.
The firm has faced targeted criticism in recent weeks after issuing a statement opposed to a bill backed by Florida Gov. Ron DeSantis that prohibits teachers to instruct on sexual orientation and gender identity in children in the third grade or younger, “or in a manner that is not age-appropriate or developmentally appropriate for students in accordance with state standards.”
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