Disney’s market cap has shrunk by nearly $34 billion since the company expressed its full-throated opposition to a Florida law banning instruction of gender identity and sexual orientation in public schools for kindergarten through third grade.
Florida lawmakers in March passed HB 1557, dubbed by opponents as the “Don’t Say Gay” bill, which was signed into law by Gov. Ron DeSantis on March 28.
From March 28, the day the company issued the statement, to April 22, Disney’s market cap has fallen by around $33.9 billion.
(HB 1557 reads):
“Classroom instruction by school personnel or third parties on sexual orientation or gender identity may not occur in kindergarten through grade 3 or in a manner that is not age-appropriate or developmentally appropriate for students in accordance with state standards” .
Disney issued a statement saying that “Florida’s HB 1557, also known as the ‘Don’t Say Gay’ bill, should never have passed and should never have been signed into law.”
(Disney’s value then) declined (from $249.2 billion) to $215.3 billion, a drop of $33.9 billion.
h/t DeploraVision