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  • Writer's pictureGotta Go Orlando

Disney Shares Soar On First Morning Of Trading Since Bob Iger's Return As CEO

When trading began on Wall Street this morning, Monday, November 21, Disney shares soared 8% in early trading on a wave of optimism that Bob Iger’s had returned as CEO.


In pre-market trading, shares were up 8.5% over Friday’s closing, with the stock pushed the $100 mark, then as trading opened it soared past $100.


To date, stock had slumped by over 40% in 2022, in part because of poor financial results and also a lack of confidence in Bob Chapek, especially the decisions he was making plunging Disney+ into the red in order to gain subscribers.


Now that Iger is back, Wall Street analysts are weighed the company’s new prospects under Iger, who ended a 15-year run as CEO in 2020 before being summoned out of retirement by the company’s board of directors in a massive Sunday night surprise!


The 71-year-old CEO will serve two years in the top job and identify a new successor, the board said in a statement released last night.


It was only five short months ago that the board had extended Chapek’s contract through 2025, making his sacking and Iger's return all the more shocking.


Bob Iger And Mickey Mouse

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