Disney Stock Tumbles

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The Florida House and Senate voted to get rid of Disney’s special privileges in Florida.

The bill would dissolve the Reedy Creek Improvement District, otherwise known as the special tax and governing jurisdiction for the Walt Disney World Resort.

Disney stock is now tumbling.

From Fox News:

Disney is poised to rank among the worst-performing stocks in 2022 after the company became embroiled in a high-profile political controversy.

The stock reached an all-time high in March 2021, trading at nearly $200 per share. But it has been in free fall ever since. As the market closed Thursday, the stock was hovering near $120 per share – down roughly 33% from a year ago.