For years, we’ve been warning parents to get their children away from Disney. Now, it’s also prudent for investors to get their money away from the woke “entertainment” company as well. The company lost 44% of their market value in 2022 and are showing no signs of changing their corporate direction despite recent changes in management.
An end-of-the-year blockbuster wasn’t enough to salvage their value. According to Breitbart:
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Not even Avatar: The Way of Water could lift the studio’s financial outlook as investors brace for what looks to be a turbulent several months ahead.
Disney’s abysmal 2022 represents its worst year since 1974 when the company’s stock dropped 54 percent, according to Dow Jones Market Data. For 2022, Disney’s stock was the second-worst performing among the 30 companies that comprise the Dow Jones Industrial Average, after Salesforce.com, whose stock fell 48 percent.
Disney has experienced a non-stop parade of bad news in 2022. The company reported surprisingly weak profitability for its most recent quarter, sending its stock in a downward spiral while prompting the abrupt firing of CEO Bob Chapek and the return of former CEO Bob Iger.
Disney also picked an ill-advised fight with Florida Gov. Ron DeSantis (R) over the state’s anti-grooming Parental Rights in Education Law. As a result, Walt Disney World lost its lucrative self-governing status in the Orlando area — a privilege the company has enjoyed for decades.
Unfortunately for millions of Americans, there isn’t much they can do with their investment or retirement accounts to escape the rampant wokeness if they are relying on financial advisors or portfolio managers. The Biden-Harris regime has incentivized these money managers to keep their clients’ money tied up in ESG companies even if doing so loses the clients’ money.
Going into 2023, it behooves Americans to take more control over their portfolios. I’m a big fan of self-directed IRAs managed by America First companies, but that’s mostly because I have zero faith in Washington DC turning things around soon, plus I love this nation so I can’t support woke companies.
Disney appears to be following the playbook of the Biden-Harris regime and the globalist elites at the World Economic Forum. They believe losing tons of money and harming average Americans is okay as long as they can keep being woke.