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.