Disney’s Stock Craters After Earnings Call
Inspiring performance Bob.
Disney’s Q2 earnings call was today and I think it spoke for itself.
I suspect some of this was put options being exercised. Everybody knew that the price of Disney stock had been artificially inflated because of Nelson Peltz’s bid to get on the Disney BOD. Which means there were a lot of sell orders with a hair-trigger.
Now that Iger’s job is safe for another year, the investors have finally started badgering him about Marvel’s disastrous performance. And he really didn’t have a lot positive to say. Deadpool 3 will probably do all right but since none of the other Deadpool movies have cracked a billion dollars I don’t see why this one will. He also went through the slate of this year’s and next year’s movies. Avatar 3 which isn’t a product of Disney’s blitheringly incompetent studio machine will do about as well as the last one. But those are the only two surefire winners on the horizon.
What is not on the horizon is Rachel Zegler’s Snow White. Iger didn’t mention it at all. It’s not canceled, you know good and well that Zegler would immediately shoot off her mouth if it was. Besides given the ludicrous budget there are financing contracts that can’t be broken. Consequently, Iger is going to try to hide its inevitable failure in the shadow of Avatar 3’s success.
There was an attempt to get some positive buzz about the next Pirates of the Caribbean movie going. Johnny Depp showed up at Disneyland dressed as Captain Jack. That could only mean that the board has approved a paycheck that dwarfed Robert Downey JR. He’s going to regret this, but Depp does not have a track record for making good decisions.
He wasn’t asked any questions about Star Wars because let’s face it there is nothing worth talking about. WDWPro is convinced that Disney is reversing course and putting Luke front and center of the Mando and Baby Yoda movie. Pro has an excellent track record for inside scoops, better than mine truth be told. However, I have some serious doubts about this one. He now has enough of a reputation that it’s worth Disney’s while to ruin it. I saw it happen with Doomcock and then Kamran Pasha. Given that they sicked the bots on WDWPro when he reported Disney World had swapped out a drag queen for the Evil Queen at a meet and greet, I think it’s safe to say that he has clearly come to Mickey the Great and Terrible’s negative attention. LucasFilm now has a reputation for underhanded attacks, hopefully, he won’t let optimism over ride caution.
