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Disney Shares Drop Almost 50%, Destroying Shareholders
Douglas A. McIntyre
Long-time shareholders of The Walt Disney Company are enraged. Its shares are down 45% over the last year, and much more from when they peaked last November. Disney has lost over $150 billion of its market cap since then.

1 Well, I'm sad for the shareholders, some of whom I might even know. Many of them count on the stock market for their retirement funds. But I'm not sad for the Disney organization, that's gone to Hell in a handbasket for years now. Walt is spinning in his grave.

2 Well, you realize that Disney "losing over $150 billion of its market cap" has precisely zero direct financial effect on Disney. When the price of Disney shares rose, the money went to people who held the stock, which was not Disney. Disney gained nothing when its stock went up, and it lost nothing when its stock value fell.

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5 Disney Shares Drop Almost 50%, Destroying Shareholders