Price of Disney shares drop to lowest level in nearly nine years

Shares of Walt Disney on Thursday fell 3.9%, closing at their lowest level in nearly nine years.

Some investors predict a further price drop in the next few months, according to Reuters.

New Disney leader Bob Iger has promised a turnaround plan that includes a mix of price hikes across its streaming properties, more ads and cost cuts to lift the business.

Critics of the iconic American entertainment company pin Disney’s slide on what they consider its adopting and supporting an ultra-liberal, so-called “woke” agenda.