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So what are some facts/numbers that tell you the movie/tv/streaming side is dragging it down or killing it? I am not dead set on my opinion. I'd love to hear facts rather than week after week complaining ever since TLJ came out.

Disney is a publicly-traded company. You could easily do a web search and confirm what I said in under 10 minutes. It isn't a secret that the parks are propping up Disney right now and they aren't investing in the parks. That statement is WHY the stock is underperforming. They aren't investing in what is making them money.

They halted all construction in the parks during COVID shutdowns, even though construction work was deemed "essential" virtually everywhere. This short-sighted decision caused some projects to drag on for over half a decade (Tron coaster, anyone?). They could have turned that opportunity into even BIGGER profits on the parks side once everything opened up, but instead they put all their investments into the entertainment side.

Then they made the absolutely mindboggling decision to advocate against the Parents Rights in Education bill in Florida, which is a bill the overwhelming majority of their target audience (families) agrees with. Pissing off your primary customer is a terrible business model, but outside of that they still have made no effort to apologize for that and are now entering into the worst case scenario with the Reedy Creek Improvement District: the Florida government is taking it over and Disney will still have to pay for the debt. What a colossally stupid business decision. How could any investor have confidence in a leadership team that makes such massively ridiculous moves?

None of that even touches on the Fox debt they assumed in that purchase, which has hampered them somewhat but they would have easily overcome that decision with sound management.

These are all things investors are acutely aware of, which is why the stock is in the tank. Disney should have been able to gain value through all of this, but instead they have mismanaged it every step of the way. On the investor side, it is obvious that nothing exciting is coming for the parks after Tron opens.

Now, don't get me wrong, it's not that the parks are just so amazing that they can't possibly fail. The reality is that much of the success of the parks right now is due to travel restrictions being lifted. Not just location-specific restrictions, but also international-travel restrictions. Disney World in Florida is just now getting through all of the rescheduled trips that had to be canceled due to government mandates. Investors are also acutely aware of this. While the average person acts like "going woke didn't make Disney go broke," people who aren't complete morons realize that Disney hasn't announced any new projects for the one segment making money since long before COVID. Even if something were to begin being developed RIGHT NOW, it will be at least 3 years before construction could even begin.

The outlook for Disney is VERY poor. I bought in when travel restrictions were lifted thinking there was no way they could screw this up, and that was a huge mistake. I'll never understand the decisions they've made since then.

TLDR: I'm a Disney investor and have been following it closely.

ETA: And no, putting out a crap product for your biggest properties (MCU, Star Wars, etc), isn't a net-0 game. It is very possible that the entertainment side could be making money if they hadn't made the conscious, and very public, decision to "go woke." Unfortunately they now seem to be continuing this trend with the parks, as the announcement of the plot surrounding the Splash Mountain retheme is just awful. It was bad enough that they were retheming it at all. Retheming it to be woke is just the absolutely worst case scenario from an investor standpoint. People don't want mega-corporation Disney lecturing them about an "employee-owned" restaurant "co-op."

This post was edited on 2/7/23 at 1:45 pm