Skip to content

Disney faces Bud Light-style boycott which may send DIS shares crashing

Disney faces Bud Light-style boycott which may send DIS shares crashing
Kliment Dukovski

Disney risks Bud Light-style boycott as social media users threaten to never spend a single dollar on Disney after the company partnered with a controversial TikTok influencer.

Seann Altman, who identifies as a male but sometimes dresses up as a woman, did a sponsored post for the Disney Style TikTok account where he wore a Minnie Mouse-inspired look.

Parents were quick to respond with rage, comparing it with Bud Light’s Dylan Mulvaney collaboration, which wiped out $27 billion off of the beer maker’s market value.

“I’ll never support Disney again. It started long before this,” said one user on Twitter

“Cancelling Disney Plus subscription. First step,” another user wrote.

This is not the first Disney controversy

The upcoming live-action remake of ‘Snow White’ won’t be following the same script as the 1937 version of the film, and it won’t use the same casting. 

Rachel Zeigler, the actress playing Snow White in the new film, said:

“It’s no longer 1937…and she’s not going to be saved by the Prince, and she’s not going to be dreaming about true love.” 

In addition, Disney has been criticized for replacing the Seven Dwarfs from the classic fairytale with a mix of non-Dwarf characters.

How did it affect Disney’s stock price

Walt Disney’s (NYSE: DIS) stock price has been steadily declining since February of this year, trading close to $85, a major support level.

The recent backlash didn’t move the price much yet. But if Bud Light’s experience is something we can compare it with, the pain is likely to be ahead.

DIS stock, weekly price chart. Source: StockCharts.com

We have a descending triangle pattern on the weekly chart, which is often a bearish signal. Typically, the price breaks out on the lower side. If this happens and the price holds under $85, we could see $50 in the coming months.

Buy stocks now with Interactive Brokers – the most advanced investment platform

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.