Down 40% in This Bear Market, Can Walt Disney Recover in 2023?
Shares of Walt Disney (NYSE: DIS) are down 39.8% since the S&P 500 market index peaked on Jan. 3, 2022, according to data from S&P Global Market Intelligence. Let's see why the entertainment titan crashed so hard last year and whether the House of Mouse can recover from this painful price cut.
Disney's 2022 downturn started in January. When media-streaming rival Netflix (NASDAQ: NFLX) reported weak fourth-quarter results and suggested that its ever-skyrocketing subscriber count might shrink later in the year, some investors saw red flags for the streaming media sector as a whole. Disney's stock fell 6.9% that day.
The next Netflix report three months later did nothing to alleviate investor concerns about the streaming industry's general health, and its subscriber roll actually did grow shorter in the first quarter of 2022. Disney's shares took another 5.6% drubbing on the news.
Source Fool.com
