The Walt Disney Company

Disney Stocks Rise Following Bob Iger’s Return as CEO

Last night, a bombshell of Disney news dropped, Bob Iger is returning as Disney CEO and Bob Chapek has stepped down. Well, the late-night news was good for stocks.

The company’s shares rose 8% early Monday morning. The “magic is back,” MoffettNathanson analyst Michael Nathanson wrote in a note Monday upgrading Disney’s stock from “market perform” to “outperform” and setting a $120/share 12-month price target.

On November 7, Disney shares dipped to their lowest level in more than two years, closing at $86.75/share. That was the lowest closing price for Disney shares since March 20, 2020, amid the dramatic market sell-off at the outset of the COVID pandemic. As of Friday, the stock had fallen 41% year to date.

In bringing Iger back as CEO, the Disney board said it had given the exec a mandate “to set the strategic direction for renewed growth and to work closely with the board in developing a successor to lead the company at the completion of his term.”

About Post Author

In 2013, Skyler Shuler wanted to share his knowledge of Disney films and the magic behind the scenes. So, he created the Instagram account Disney Film Facts and the page quickly garnered a following. Soon after a Twitter was created, and not long after that was born. The page has been lucky enough to garner a wonderful following of such amazing Disney and movie fans, as well as been sourced in some of the biggest entertainment sites in the world. In 2018, the page was rebranded to The DisInsider, and the rest was history!

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