Disney (DIS) stock has tanked 33% in the past year and — amid the Florida classroom sexual orientation bill — is on track to be one of the worst-performing stocks of 2022.
In March 2021, Disney was trading at nearly $200 a share; as of April 21, 2022 market close, the stock was at $120, FoxBusiness.com reports.
Disney has become embroiled in a controvery in Florida after it opposed a bill that Republican Governor Ron DeSantis signed to prevent children in the third grade or younger from being taught about sexual orientation and gender identity.
The Florida House of Representatives on Thursday passed a bill that would dissolve Walt Disney World's private government, thus handing DeSantis a victory in his feud with Disney over its opposition to the new Parental Rights in Education law.
Disney LGBT workers and advocates criticied Disney, namely CEO Bob Chapek, for not rejecting the grade school sex ed bill, which they nicknamed the "Don't Say Gay" bill.
The private government bill would have tremendous tax implications for the entertainment giant, which employs 60,000 in Florida.
The bill is heading for the desk of DeSantis, who believes sex education is inappropriate for children eight years old and younger. DeSantis has also said it is a parent's right to decide when to teach their children about the sensitive topic.
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