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A drop below $83.83 would mark Disney’s lowest closing price since 2014.
Drew Angerer/Getty Images
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On Monday morning, shares approached their lowest level in a year as the entertainment company’s recent slide continued.
Walt Disney stock (ticker: DIS) fell 1.5% to $87.32, while the
S&P500
the index rose 0.2%. Disney was the second worst performer in the
Dow Jones Industrial Average
,
which was up 0.1%. Only
Verizon Communications
(VZ), down 3.2%, had fallen further.
Disney shares are up just 3.7% from their 52-week closing low of $84.17 on Dec. 28. If the stock falls below $83.83, it would mark Disney’s lowest close since 2014.
Stocks have struggled in recent months as investors worried about a volatile media landscape, strikes by Hollywood writers and actors and the near-term growth prospects for Disney’s theme park business.
Walt Disney CEO Bob Iger last week received a contract extension until 2026. He had led the company from 2005 to 2020 and joined Disney when it fired successor Bob Chapek in November. The company said last month that chief financial officer Christine McCarthy was stepping down, adding to recent revenue figures. Disney has cut 7,000 jobs this year.
Write to Connor Smith at connor.smith@barrons.com