Disney’s Market Freefall
By Chris Queen
There’s a saying, and I don’t know who coined it, but it goes something like, “Go woke; go broke.” I do know that former president Donald Trump said that “everything woke turns to s**t.”
One company that’s learning this lesson the hard way — even though nobody there will admit it publicly — is Disney. David Ng at Breitbart is reporting that The Walt Disney Company has lost a whopping $63 billion in market capitalization over the past two months.
“Shares of Disney have plummeted 23.5 percent since the start of March, falling from $145.70,” Ng writes. “Market cap is down $62.6 billion, from $265.3 to $202.7 billion.”
(For the uninitiated, Investopedia defines market capitalization as “the total dollar market value of a company’s outstanding shares of stock. Commonly referred to as ‘market cap,’ it’s calculated by multiplying the total number of a company’s outstanding shares by the current market price of one share.”)