Why Walt Disney Stock Dropped 17% in March
Shares of Walt Disney (NYSE: DIS) lost 17.9% in value last month, according to data from S&P Global Market Intelligence. The stock has fallen more than the broader market year to date, since Disney relies heavily on having people visit theme parks and go to see movies.
Over the past month, Disney has pushed back its entire upcoming movie release schedule until later in the year, in response to the closure of theaters across the country over the COVID-19 outbreak. Disney has also closed its theme parks in the U.S. for an indefinite period.
Image source: Walt Disney.
Source Fool.com
