Todd Spangler of Variety tweeted that Disney lost about $24 billion in market cap that day.
The Walt Disney Company saw the worst stock price loss since 2001 on Friday. The company has been struggling and suffering losses with its Disney+ streaming service and courted serious controversy and withering criticism from the Star Wars and Marvel fanbases for terrible creative decisions.
The corporate officers of Disney have assured their anxious investors that an upcoming price increase, amidst a recession and an inflationary crisis that is crushing entertainment budgets, and an ‘ad-tier’ that offers limited content with advertising will stop the financial bleeding according to Axios.
As reported by Breitbart however, this would not be the case. Disney’s stock would plunge a further 13 percent on Nov. 9, contributing to the overall loss of 44 percent year to date.
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