Walt Disney (NYSE: DIS) investors breathed a sigh of relief when Bob Iger, Disney's CEO from 2005 to 2020, replaced Bob Chapek in late November.

The news was surprising considering Iger had chosen Chapek as his successor. But it was a tall order for Chapek, who was tasked with growing Disney's streaming platform and had to deal with the unexpected COVID-19-induced slowdown at its parks. The declining stock price, paired with questions about Disney's profitability, was enough for Wall Street to cheer Chapek's removal.

When Iger's return was announced on Nov. 21, Disney stock jumped on the news to over $100 a share. But since then Disney stock has given up all of those gains -- and then some -- and is now hovering around an eight-year low. 

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Source Fool.com