Like the Evil Queen in Snow White, Disney stock has fallen off a cliff as parents boycott the entertainment giant. Good.
The chart below shows the change in the price of Disney stock versus the Dow Jones Industrial Average. Over the past year the value of Disney stock has fallen by more than a third while the market as a whole is down just a little bit.
The decline has been particularly rapid since Disney came out for the sexualization of young children by opposing HB 1557.
HB 1557 was signed into law by Governor Ron DeSantis on March 28. Between May 28 to April 22 the market value of Disney Corp has fallen by $34 billion.
HB 1557 has been labeled by opponents as the “don’t say gay bill”. That is a gross mischaracterization of HB 1557. HB 1557 merely states the following:
“Classroom instruction by school personnel or third parties on sexual orientation or gender identity may not occur in kindergarten through grade 3 or in a manner that is not age-appropriate or developmentally appropriate for students in accordance with state standards,”
Disney’s action sparked a boycott by parents concerned that the company has “surrendered to the woke mob” and the revocation of Disney’s special development privileges in Florida.
From our vantage point, rather than “surrendering to the woke mob”, it looks to us that Disney is leading the work mob.
And we applaud Governor DeSantis for abolishing the special treatment of a politically-connected corporation. Disney had been getting special through the Reedy Creek Improvement District since 1967. Ending corporate welfare is always a good thing woke or not.
Disney may not have unveiled their new Sodom and Gomorrah attraction quite yet (OK, that’s satire from the Babylon Bee) but it is no longer the provider of wholesome family entertainment that it was under founder Walt Disney.
Walt Disney himself once said “our greatest natural resource is the minds of our children.” It is a shame that modern Disney no longer wants children to be children.
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