DeSantis officially strips Disney of special privileges; Disney stock is ‘the worst-performing Dow stock over the past year’

Walt Disney maintains typical municipal services like power, water, sewage, roads, and emergency services.

Some tax officials warn that revoking Disney’s special district status as a self-contained government could increase property taxes on residents of Orange County up to 25%.

The showdown between DeSantis and the entertainment behemoth began when Disney called for the Parental Rights in Education bill to be overturned.

The Walt Disney Company released a statement railing against the Parental Rights in Education bill on March 28.

“Our goal as a company is for this law to be repealed by the legislature or struck down in the courts, and we remain committed to supporting the national and state organizations working to achieve that,” Disney said in a statement. “We are dedicated to standing up for the rights and safety of LGBTQ+ members of the Disney family, as well as the LGBTQ+ community in Florida and across the country. Florida’s HB 1557, also known as the ‘Don’t Say Gay’ bill, should never have passed and should never have been signed into law.”

On March 29, the Disney stock was at $142.38, but plummeted to $118, according to CNBC.

As of Friday afternoon, Disney’s stock was down 35% in the past year. The stock had hit an all-time high on March 8, 2021, trading at $201.91.

CNBC anchor Carl Quintanilla wrote on Wednesday, “Disney is now the worst-performing Dow stock over the past year.”

The Daily Mail reported that of the 30 companies that make up the Dow Jones, Disney’s stock “has seen the sharpest decline,” followed by 3M and Home Depot.