The Walt Disney Company (NYSE:DIS) shares are trading at about a nine-year low as investors remain skeptical over returning CEO Bob Iger’s turnaround plan for the company.
Since Iger’s return to the top job on November 20, 2022, Disney’s market capitalization has shed about $15 billion.
Earlier this month, Disney reported mixed second-quarter earnings, including falling streaming subscriber numbers across its Disney+, Hulu and ESPN platforms.
At the time, Iger noted the company had “work to do”, but his promises of price increases across its streaming platforms, more advertising, and cost-cutting initiatives don’t appear to have convinced investors.
Shares of Disney finished Thursday’s trading day down 3.9% at US$82.47, marking the lowest close since October 16, 2014.
Its stock recovered slightly in pre-market trade on Friday, up 0.6% at US$82.94 before the opening bell in New York.
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