Disney stock on its way to worst year since 1974 after 'Avatar' sequel disappoints• https://www.marketwatch.com By Jon Swartz
"Avatar: The Way of Water" couldn't reverse Walt Disney Co.'s recent funk, which has the stock on a path for its worst year since 1974.
Disney shares DIS, +1.45% sank nearly 5% to their lowest level since March 2020 on Monday, after the blockbuster sequel and one of the priciest movies in Hollywood history fell short of the hype in its opening weekend. "Avatar: The Way of Water" hauled in $134 million domestically and had the second-largest global opening of 2022, but fell short of tracking estimates based on advance U.S. ticket sales and disappointed in one of the biggest markets for the franchise, China.
Disney had hoped to clean up in China, where the first movie in 2009 did blockbuster business. "The Way of Water" earned $57.1 million there, which Disney described in a Wall Street Journal report as disappointing but understandable.