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Disney Shares Extend Losses; Investors Fret Over Streaming Growth As Disney+ Turns Two

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deadline.com
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Disney shares are down 8% in heavy trading, extending a selloff that started yesterday after the media conglom posted weaker than expected earnings and streaming data for the September quarter.The dip in the shares, changing hands at about $161, is weighing on the broader market.

Disney is one of only 30 highly selective, heavyweight stocks included in the Dow Jones Industrial Average so a big move like today’s has an impact, pulling the index lower. (The DJIA is off 80 points or 0.22%.

The broader Nasdaq, S&P 500 and Russell 2000 are all in positive territory.)Disney+ growth slowed for the fiscal fourth quarter, adding 2.1 million subscribers to hit 118.1 million.

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