Disney Stock Tumbles Amid Fallout From Florida Controversy

Guests wear masks as required to attend the official reopening day of the Magic Kingdom at Walt Disney World in Lake Buena Vista, Fla, on, July 11, 2020. (Joe Burbank/Orlando Sentinel via AP)

Disney stocks have tumbled so far in 2022 as the company waded into Florida’s political arena while Republicans in the state voted to revoke the firm’s self-governing status in the central portion of the state.

The stock hit all-time highs in March 2021, trading at $200 per share. But since then, it’s dropped more than a third to about $119 per share as of April 22, putting the media conglomerate on track to its lowest close in 17 months. As of April 19, Disney’s stock reached $131.90 but since then, it’s dropped more than $12 per share as of Friday.

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