Disney Hits Lowest Since March 2020 After Tepid ‘Avatar’ Debut
- Disney lowered its guidance for the film’s opening weekend
- Disappointing results weighed on the stock last month
Avatar: The Way of Water
Source: 20th Century Studios
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Walt Disney Co. fell on Monday, with the media company extending a lengthy selloff that took the stock to a more than two-year low.
Its shares fell 4.8% to $85.78, ending at their lowest since March 2020 after a fourth day of losses. The slump came after a somewhat disappointing opening weekend for the company’s Avatar: The Way of Water, one of the most expensive movies in Hollywood history. The film made $53 million in its first two days of domestic release, and Disney lowered its guidance for the opening weekend.