Walt Disney stock (ticker: DIS) is approaching a one-year low as the company continues to face a decline in its market performance.
As of Monday morning, Walt Disney stock was down 1.5% to $87.32, while the S&P 500 index showed a 0.2% increase. Among the stocks listed on the Dow Jones Industrial Average, Disney ranked second-worst, with only Verizon Communications (VZ), down 3.2%, experiencing a larger decline.
Over the past year, Disney shares have only seen a modest increase of 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.
The recent slide in Disney’s stock can be attributed to several concerns raised by investors. Worries about the volatile media landscape, along with the issues surrounding strikes by Hollywood writers and actors, have played a role in the company’s underperformance. Additionally, uncertainty looms over the near-term growth prospects of Disney’s theme-park business.
Notably, Walt Disney CEO Bob Iger recently received a contract extension through 2026. After leading the company from 2005 through 2020, he rejoined Disney when his successor Bob Chapek was fired in November. In addition, the company announced that Chief Financial Officer Christine McCarthy would be stepping down, adding to the recent turnover. This year alone, Disney has implemented 7,000 job cuts.