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Disney's share price plummeted what is the reason for Disney's share price plummeted

Disney shares plunged. Recently, Disney was involved in the storm of sharp decline in share price - under the influence of negative news such as lower than expected financial results, suspected of huge financial fraud, termination of contract with Sony and Shanghai Disney's' search package 'refusal to mediate, in less than a month - Disney's market value evaporated nearly $28 billion (about RMB 1977 billion).

Recently, Disney's share price, which has been "falling endlessly", is a little hard to remember. Last night, its share price continued to fall by 3.24%, and its share price fell nearly 10.5% from the high of $147.15 last month. As of press time, its latest share price was US $131.67.

After the closing of US stocks on August 6, 2019, Disney released the performance report for the third quarter of 2019. Disney's revenue in the third quarter was US $20.25 billion, a year-on-year increase of 33%, but it was lower than the market expected US $21.478 billion, compared with us $15.228 billion in the same period last year; The net profit was US $1.982 billion, far less than the market expected US $2.566 billion and US $3.059 billion in the same period last year. Disney explained that the decline in profits was due to Fox's ongoing entertainment asset integration, but since then, it has still fallen sharply by nearly 6%.

Disney is also caught up in a financial fraud of up to $6 billion. Sandra & middot, a former employee who has worked for Disney for 18 years; Kuba said that he had submitted report materials to the U.S. Securities and Exchange Commission, accusing that Disney's operating revenue was exaggerated by as much as $6 billion (about 42.4 billion yuan) in fiscal year 2008-2009 alone.

In China, Disney, which is full of fairy tales, is controversial because of the "bag search" incident, and recently responded that it "does not accept mediation", which is also surprising. Many netizens commented on "I didn't expect you to be such a Disney" and "you must give an explanation" & hellip& hellip;