The past three years have been challenging ones for Walt Disney (NYSE: DIS). Ditto for shareholders; the stock's still down more than 40% from its early 2021 peak.

Blame the COVID-19 pandemic, mostly. The contagion reshaped the entertainment industry landscape by accelerating the growth of competing streaming services while at the same time permanently damaging the theatrical film business. Like most of its peers, Disney wasn't ready for the rapid change.

Time eventually heals all wounds though. Now three years into the shakeup -- and with a veteran CEO back at the helm -- there's a light shining at the end of the tunnel. Walt Disney can be fixed, and the turnaround is already making progress.

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Source Fool.com