|
|
Article: Fears of soft theme park turnouts drops Disney stock 25%. (Walt Disney Co.)
- Article from:
- Los Angeles Business Journal
- Article date:
- September 17, 1990
- Author:
CopyrightCOPYRIGHT 1990 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Fears of soft theme park turnouts drops Disney stock 25%
After five years of hits on Wall Street, Walt Disney Co. stock has gotten bad reviews, falling nearly 30 percent in just the past two months.
Disney closed at $96.25 Sept. 13, down $40 from the 52-week high it reached July 13.
For Michael Eisner, chairman, the plunge may have been expensive. Eisner himself may have lost $14.3 million on his 355,439 shares, according to the 1990 proxy.
Whether the market is overreacting to what a soft economy will do to theme park attendance, or whether there is something fundamentally wrong with the blue chip stock is open to debate.
"The ...