After Florida Strips Disney of Special Tax Privilege – The Mouse House’s Stock Price Takes a Nosedive
In an odd turn of events, Hollywood movie powerhouse Disney has started a war with Florida. And it looks like Disney is losing.
Disney exposed itself as a radical woke company, hellbent on pushing gender politics. Florida, in response, voted to repeal its special jurisdiction over the land on which Disney World stands.
Things are going from bad to worse for the once family-friendly company. Its stock is dropping.
From Fox Business:
Disney is poised to rank among the worst-performing stocks in 2022 after the company became embroiled in a high-profile political controversy…
As the market closed Thursday, the stock was hovering near $120 per share – down roughly 33% from a year ago…
The Florida House of Representatives passed a bill Thursday that would dissolve Walt Disney’s special governing power in the state, a move that could have huge tax implications for Disney, one of the state’s largest private employers with more than 60,000 workers. The bill now heads to DeSantis’ desk.
Disney stock has been falling ever since Florida voted to revoke its special tax exemptions. This is the result of Disney wading into a Florida law battle it should have stayed out of.
The Hollywood-based company criticized Florida lawmakers for passing a law that protects children. In doing so, Disney outed itself as a super-woke company devoted to pushing LGTB content in all of its products.
Florida outraged that Disney would try to interfere with its governing, passed a bill to revoke the company’s special protections.
It’s almost a certainty that DeSantis will sign the bill into law.
This news seems to have hit Disney’s stock, but it appears to have been dropping for a while. Numerous parents and longtime Disney fans have been dumping their subscriptions to the company.
That includes passes to their parks and subscriptions to online content. All because Americans are sickened by Disney’s leftist agenda.
This dates back to before the current conflict, to when Disney acquired (and then ruined) beloved properties such as Star Wars and Marvel superheroes.
How far will Disney go to push the woke agenda? I guess we’ll find out.
Key Takeaways:
- Florida passed a bill to revoke Disney’s special tax exemptions.
- Disney stock dropped in recent days, following a longer trend.
- The company interfered with a Florida law protecting students.
Source: Fox Business