It’s been a tumultuous few years for The Walt Disney Company, with 2022 coming in as one of the worst for Disney stock since 1974.
From a global pandemic to disappointed shareholders and an ousting of Chapek as CEO, it’s no wonder Disney stock has fluctuated lately. We saw stock prices spike immediately following the announcement that Bob Iger had returned as CEO of Disney. Now, it looks like Disney stock prices have risen again.
Soon after Bob Iger returned as CEO, we saw Disney stock prices jump. On the morning of November 21st, right after the Iger announcement was made — Disney stock was trading at $100+ in the pre-market, with an opening price of $100.10. But prices later dropped, with shares later closing at $85.78 — a nearly 50-year low.
That has since changed, though, as Disney stock prices have now climbed above $100 for the first time since November 2022. When we checked , DIS was trading at $100.38 — an increase of 4.05%.
The news comes shortly after Disney announced that Mark Parker would be taking over as Disney’s Chairman of the Board following Susan Arnold’s departure. Whether or not that announcement had an impact on Disney stock remains unclear, but Parker
History has shown that it’s not always smooth sailing for “boomerang CEOs” like Iger. A study published by MIT Sloan Management Review in 2020 showed that companies that brought a former CEO back have “significantly lower” stock performance than those that put someone new in the position.
Iger has been tasked with re-evaluating “several of the recent strategic initiatives and corporate restructurings over the past two years, which could create some near-term uncertainty on direction of the company,” according to Bank of America analyst Jessica Ehrlich.
Whether or not Iger and Parker are able to set the “strategic growth” of Disney and choose a successful successor is anyone’s guess. But, Disney stock prices might suffer the consequences or reap the benefits depending on what they’re able to accomplish.
We’ll be sure to keep an eye on Disney stocks and changes at the Walt Disney Company. For more on Iger’s return as CEO, check out:
- Disney Announces “Organizational and Operating Changes” As a Result of Bob Iger’s Return
- “They Brought This on Themselves” — Governor DeSantis Responds to Disney CEO Bob Iger’s Comments on Florida Legal Battles
- Will Bob Iger Reverse Bob Chapek’s Decisions?
- Disney CEO Bob Iger Comments on Reedy Creek and & Don’t Say Gay Controversy
- CEO Bob Iger Comments on Disney Park Pass Reservation System
Stay tuned to DFB for more Disney news and updates.
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