Wall Street hasn’t been kind to Hollywood entertainment giants this year — but that may be about to change.
Disney, once thought of as a stock-market pace car setting the tempo for the rest of the industry, has been one of the Dow Jones industrial average’s biggest dogs in 2022, with share prices dropping 28 since the start of the year. (The stock closed at 112.32 on Thursday.)
The overall market has taken a beating this year: The S&P 500 has slumped 20, the tech-laden Nasdaq is down 27, and the Dow has tanked 14. But Hollywood conglomerates have fared even worse: Paramount Global shares have dropped 29, Lionsgate fell 45, while Warner Bros. Discovery and Netflix shares have been stunningly sliced by more than half. Fox, which has declined a relatively modest 12, has ironically been the one Hollywood stock to break out from the pack simply because the Murdoch-led media empire has focused on terrestrial and...
Disney, once thought of as a stock-market pace car setting the tempo for the rest of the industry, has been one of the Dow Jones industrial average’s biggest dogs in 2022, with share prices dropping 28 since the start of the year. (The stock closed at 112.32 on Thursday.)
The overall market has taken a beating this year: The S&P 500 has slumped 20, the tech-laden Nasdaq is down 27, and the Dow has tanked 14. But Hollywood conglomerates have fared even worse: Paramount Global shares have dropped 29, Lionsgate fell 45, while Warner Bros. Discovery and Netflix shares have been stunningly sliced by more than half. Fox, which has declined a relatively modest 12, has ironically been the one Hollywood stock to break out from the pack simply because the Murdoch-led media empire has focused on terrestrial and...
- 9/9/2022
- by Joe Bel Bruno
- The Wrap
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