After tumbling following a poor fourth-quarter report, the stock price for The Walt Disney Company jumped this morning as investors woke up to the news that former Disney CEO Bob Iger is back at the helm and Bob Chapek is out.
In pre-market trading, the stock jumped 10% (over $101 per share), but in the early minutes of market opening the stock seemed to have plateaued, with investors hesitant to push through $100 per share this morning.
Iger was likely brought in to right the ship. The media side of the company is posting massive losses while the theme parks post record revenues thanks to a jump in per-guest spending due to initiatives such as Disney Genie+. Iger has not announced any initiatives or plans yet but promised to provide more details about his plans today and over the coming weeks as the dust settles.
For more on the reinstatement of Bob Iger, including full copies of his email and a statement from The Walt Disney Company, check out our breaking news reporting from last night!
As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!