Walt Disney Stock Plummets, Set for Biggest Drop Since November
Afternoon Trading Sees 9% Downward Slide
Shares Hit 104.98, Nearing Six-Month Low
In a dramatic afternoon trading session, Walt Disney Company (DIS) stock witnessed a significant decline, dropping 9.9% to 104.98. This steep fall is poised to be the company's largest since November 5, 2023.
The shares, which had been hovering around 117, have been steadily trading upward over the past six months. However, the recent plunge has brought them perilously close to the 52-week low of 78.73.
The latest price drop comes amidst ongoing concerns about the company's streaming business. Despite reporting better-than-expected earnings and CEO Bob Iger's upbeat outlook, investors remain cautious about the competitive landscape and the potential impact on Disney's profitability.
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