Disney’s stock was down more than 2% on Friday and by more than 8.5% over the past few days as Florida lawmakers work to punish the company for wading into the state’s politics. The stock’s market cap has declined by about $46.6 billion since March 1, just days before the company came out against the legislation.
Disney CEO Bob Chapek said his company would end political donations in the Sunshine State.
Now Republican lawmakers are exacting their revenge.
This week in a 23-16 vote, the GOP-led Senate passed the legislation that would dismantle the Reedy Creek Improvement District, which allows Disney to oversee its own zoning, infrastructure, laws, and policing in the area around its parks. The state House also voted to do so by a 70-38 vote.
| So what this means is that most Americans are not on board with grooming infants and toddlers for rape. |