After skidding to multi-year lows in late-2023, Disney stock has rebounded more than 20% thus far in 2024 as two activist investment firms have launched a proxy fight.
The stock finished Thursday trading at $110.18, up a fraction. It started the year at $90.10, putting its gains at 22% for the year to date.
Goosing the stock price is a stated goal of two activist investment firms that have taken aim at Disney’s top execs and board of directors ahead of the company’s annual shareholder meeting on April 3.
It isn’t yet clear whether either opponent has managed to secure meaningful support from other shareholders, though many individuals hold Disney shares, making the sentiments of its base difficult to gauge compared with institution-controlled stocks.
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