Perlmutter Dumps Disney Shares, Cites Lack of Confidence in Leadership
Portfolio Pulse from Anusuya Lahiri
Isaac 'Ike' Perlmutter, a former Marvel executive and major Disney shareholder, has sold his entire stake in Walt Disney Co (NYSE:DIS) due to a lack of confidence in the current management. This follows a failed campaign with activist investor Nelson Peltz to secure board seats. Disney shares fell 3.4% on the news.
July 24, 2024 | 1:42 pm
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NEGATIVE IMPACT
Isaac Perlmutter, a significant Disney shareholder, sold his entire stake due to lack of confidence in current management. This follows a failed board campaign with Nelson Peltz. Disney shares fell 3.4% on the news.
Perlmutter's sale of his entire stake in Disney signals a lack of confidence in the company's leadership, which could lead to further investor concerns and downward pressure on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
SGI US Large Cap Core ETF (NYSE:SGLC) has exposure to Disney, which saw a 3.4% drop following the news of Perlmutter's stake sale.
As an ETF with exposure to Disney, SGLC may experience short-term negative impact due to the decline in Disney's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Global X S&P 500 ESG Covered Call ETF (NYSE:XYLE) has exposure to Disney, which saw a 3.4% drop following the news of Perlmutter's stake sale.
As an ETF with exposure to Disney, XYLE may experience short-term negative impact due to the decline in Disney's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50