“Disney shares rise after Iger replaces Chapek as CEO”
November 21, 2022
“Shares of Disney popped Monday, the morning after the company announced it had replaced CEO Bob Chapek with Bob Iger. Disney’s stock rose more than 7% on Monday. As of Friday’s close, the company’s shares had fallen about 40% so far this year.
Chapek, who succeeded Iger as CEO in early 2020, had come under increasing criticism and scrutiny over the company’s performance in recent months. Its most recent quarterly earnings report, which hit earlier this month, arrived with a thud, sending the company’s shares down dramatically. Three days after that report, Chapek told his lieutenants in a memo that Disney would seek to cut costs through hiring freezes, layoffs and other means…”
https://www.cnbc.com/2022/11/21/disney-dis-shares-rise-after-iger-replaces-chapek-as-ceo.html
This is not a good time to invest in Disney in my opinion. People are cutting back on expenses. Entertainment is the first to go.