Andrew Ross Sorkin announced the cataclysmic news from Disney with a chyron reading “Has Disney Lost its Magic” beneath him.
Squawk Box co-anchors Sorkin and Joe Kernen broke down Disney’s recent struggles, flailing woke projects and nosediving stock price on August 25. The day before, Disney’s stock prices closed at their lowest point since October 29, 2014, with $82.47 a share. This close marks a brutal fall from an earlier stock price of $201.91 a share on March 8th, 2021, the same day former Disney CEO Bob Chapek chose to take a stand so that Florida kindergarteners could learn gender theory. Kernen summed up their fall from grace, noting that Disney’s market cap was “all the way down to $150.” Kernen reminisced on expectations that “Disney plus was gonna take over the world” when Disney stock was over $200 a share in 2021, before snapping back to the present: “This is a new low.”
Disney’s stock price, like Chapek, has taken a fall as the multi-billion dollar company has seen their major releases fail and underperform. More and more parents know where Disney stands, after a Disney employee bragged in a leaked video about bringing her “not-at-all-secret gay agenda” to work with her and Disney platformed several disturbing shows promoting CRT and gender theory.
During the same segment, Kernen asked guest Barton Crockett, a Senior Analyst at Rosenblatt Securities, whether Disney’s “woke, broke business model” had anything to do with Disney’s troubles. Kernen called out current Disney CEO Bob Iger for blaming theme park attendance issues on the weather, “We had a really low, down in Orlando, attendance on a-certain-period in the summer and I think Iger said well it was hot. And then people look back and it was the same temperature that it was last year, the year before, the year before that and Florida wasn't really overly hot.”
Kernen also alluded to the conservative boycotts of Target and Bud Light before asking Crockett, “If Desantis has taken some hits from people that are mad at what he did to Disney, shouldn't some of the people that agree with DeSantis, couldn’t-that be be part of the problem here or do you say no, it got nothing to do with it?”
When Crocket tried to downplay the role of conservatives and Florida Gov. Ron DeSantis (R) in Disney’s trail of failures, Kernen pointed out how conservative boycott targets have underperformed their competitors, “It is not just with DeSantis, I mean. There’s Snow White. There’s seven magical creatures. There’s, I don't know, some other movies that were not well received because they were thought of as being—Comcast has been doing pretty well, and you look at Walmart versus Target and there’s a clear —- It goes like this, Barton —- there’s a clear difference.” Despite running cover for Iger’s weather comments, Crockett seemed to agree that drastic changes were needed in order to keep Disney afloat, “In my mind, the right structure is a breakup.”
It turns out that a corporation that depends on the love of America’s families should not have spat in their faces.
Conservatives are under attack! Contact The Walt Disney Company at TWDC.corp.communications@disney.com and demand the company stop shoving woke propaganda down the American people’s throats
