Disney, like all media companies, has had a rough week on the Stock Market, as fears about the growing spread of the coronavirus continue to hammer Wall Street. But the Magic Kingdom has been hit harder than most, with its stock falling as much as 18% since last Friday.
Disney’s stock was somewhere in the $140-per-share range last Friday. As of 12:50 p.m. ET today, it’s hovering around $115-per-share.
Disney’s week was even more atypical than most other media companies who are dealing with the fallout of the continued spread of the COVID-19 virus, which first began in December. Fears of the virus’ spread have dragged down the market at large, with the S&P down 14% since last Friday, while the Dow has plummeted 15%.