Why Disney Stock Is Down 37% This Year
It's been a rough year so far for Walt Disney (NYSE: DIS) investors. After huge gains during the height of the pandemic, Disney's shares have come crashing down by 37.7% since the beginning of this year, according to data provided by S&P Global Market Intelligence.
Investors are, of course, pessimistic about stocks in general right now, but Disney's drop has been the result of disappointing financial results in the company's latest quarter, rising costs for Disney+, and concerns that high inflation will continue to eat into consumers' purchasing power.
Investors need only to look at the company's second-quarter financial results to see where the company is stumbling right now. Non-GAAP (adjusted) earnings in the quarter were $1.08, below Wall Street's average estimate of $1.19 per share.
Source Fool.com
