Shares of Walt Disney (DIS) are struggling mightily in 2023, despite CEO Bob Iger returning to the helm late last year to help the company navigate a volatile economy. The planned turnaround has so far been frustratingly slow for investors, as DIS is down 32% from its early 2023 highs, and is now 7.7% lower on a YTD basis - significantly underperforming the broader S&P 500 Index ($SPX), which is still up 8.2% on the year.
Longer-term, the stock is down 60% from its 2021 all-time highs, valuing the company at $147.46 billion by market cap. The drawdown in Disney stock has left the shares trading close to nine-year lows.
