Shares down 23%.
- The Walt Disney Co. has lost nearly $63 billion in market capitalization since March when the company opposed Florida’s Parental Rights in Education bill, Breitbart reports.
- Shares of Disney plunged 23.5% since then and dropped from $145.70.
- The media conglomerate’s market cap is down $62.6 billion, from $265.3 to $202.7 billion.
WHY DISNEY IS LOSING:
- Disney’s financial free fall comes as it embraces “woke,” far-left politics, including LGBTQ ideology, which the company is pushing on young children.
- Such a move has alienated millions of consumers.
- Disney’s biggest troubles began in early March when Disney CEO Bob Chapek succumbed to a group of LGBTQ employees, ditching the company’s neutral position on the Florida legislation.
- In the past year, Disney’s stock fell more than 30%, making it the worst-performing stock on the Dow Jones Industrial Average.
- Disney’s senior communications relations executive, Geoff Morrell, who played a critical role in the company’s attack on the Florida legislation, recently stepped down from his position.